Week ahead packed with crucial data
Plenty of action ahead this week for markets. Could we be seeing another volatile week coming up?
The EURUSD made some modest gains on Friday to round out the week. The pair began Friday at $1.11787 and dipped to a low of $1.11771 in the opening hour of trade. It spent most the session posting gains, as it hit a high of $1.12224 late in the day. It has come off those highs and is now trading at $1.12010. The GBPUSD ended the week in horrendous fashion as it struggles to stay above $1.20. The pair opened Friday at $1.21328 and edging up to $1.21516 in the opening hour of trade. It maintained itself near those levels in early trading before the decline set in mid-session. The pound fell over the majority of the day, plummeting to a low of $1.20221. It has edged lower in Monday trading and is currently at $1.20165.
The Dow was reasonably flat on Friday after opening at 26,294.89. The index traded in a tight range for most of the day, dipping to lows of 26,092.88 late in the day before climbing to a high of 26,418.15. It has come off those highs and is now trading at 26,251.46. The Dax got off to a promising start before ending Friday in negative territory. The German index opened at 11,793.92 and lifted to a high of 11,853.57 early. It gave up those highs quickly and continued accumulating losses throughout the day, eventually bottoming-out at 11,664.41. It bounced off those lows and closed the week at 11,730.36.
The week ahead sees the publication of several pieces of crucial economic data from the US, UK and Australia. Brexit negotiations and trade tensions will also dominate the week as the Brexit deadline looms and hopes for a trade deal between the US and China becoming increasingly unlikely anytime soon.
Data published today and the most significant this week includes:
Today – Japanese Bank Holiday
Tuesday – US CPI & Core CPI, UK Average Earnings Index
Wednesday – UK CPI, Australian Wage Price Index
Thursday – US Retail & Core Retail Sales, US Philly Fed Manufacturing Index, UK Retail Sales, Australian Employment Change & Unemployment Rate
Friday – US Building Permits
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