US data in focus
Plenty of data around today, with the US being centre of attention once again.
The EURUSD made modest gains overnight as the euro strengthened. The pair began the week at $1.11230 and climbed to $1.11382 before falling to lows of $1.11120 mid-session. It bounced of those lows as it marched its way up to a high of $1.11501 late in the day. It has come off those highs and is now trading at $1.11405. The pound was belted overnight as Brexit concerns remain and the prospect of a no-deal Brexit increasing. The GBPUSD opened the week at $1.23738 and ticked up to a high of$1.23837 shortly after the open. It was basically all downhill from there as the pound plummeted to a low of $1.22108 late in the day where it is now currently trading.
The Dow made some gains overnight, while markets await the Fed Reserve meeting on Thursday morning. The index started the week at 27,179.72 and dipped to a low of 27,151.08 early in the day. The Dow climbed off those lows, peaking at 27,295.23 late in the day. It is not far off those highs, currently at 27,277.95. The Dax remained flat overnight, unmoved by a weaker euro. The German index opened the week at 12,395.03 and dipped to lows of 12,376.02 shortly after the open. From there, it climbed to highs of 12,471.05 late in the day before closing at 12,421.82.
The day ahead sees the release of a stack of data, headlined by Consumer Confidence figures from the US. There is an expectation of a pick-up in consumer confidence, with the official figure expected to be 125.2, up from 121.5 recorded at the last reading.
Other day published today includes:
Australia – Building Approvals
Japan – BoJ Policy Rate, Monetary Policy Statement, Outlook Report and Press Conference
US – Pending Home Sales, S&P/CS Composite-20 HPI, Personal Income & Spending, Core PCE Price Index
Europe – French Flash GDP, German GfK Consumer Climate, French Consumer Spending, French Government Budget Balance, Swiss KOF Economic Barometer, German Prelim CPI
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