Markets eye US data

August 13, 2019

A stack of data is scheduled for publication today as markets recover from another sell-off.

The EURUSD looked in dire straits halfway through the day before a rally saw it make some gains overnight. The pair opened at $1.11969 and climbed to $1.12104 before falling sharply to lows of $1.11610. However, it recovered soon afterwards, rallying to a high of $1.12298 late in the day. It has come off those highs and is currently trading at $1.12141. The GBPUSD started the week at $1.20419 and flirted with $1.19 territory, dipping to a low of $1.20132. It spent a large chunk of the day posting gains as it peaked at $1.21059 heading into late trading. It has come off those highs and is now trading at $1.20755.

The Dow struggled overnight, weighed down by trade concerns between the US and China. The index opened the week at 26,294.78 and edged up to a high of 26,378.60 before things turned south. The Dow basically spent the rest of the session in decline and it plummeted to lows of 25,825.37. It has come off those lows and is currently trading at 25,924.35. The Dax was weighed down by the falling Dow, ending Monday in negative territory. The German index opened at 11,739.16 and spiked to an early high of 11,833.63, where the wet blanket that is the Dow, stepped in. The Dax reversed earlier gains quicker than it made them and then piled on the losses late into the day. It eventually bottomed-out at 11,610.35 before closing at 11,628.71.

The day ahead see the release of a few pieces of data that could cause some movement in various markets. The most significant data being published is the US CPI & Core CPI figures. These figures reflect inflation within the country. The CPI is expected to post a 0.3% growth for the month (vs 0.1% at last reading), while the Core CPI figure is expected to grow by 0.2% (vs 0.3% at last reading).

Other data published today includes:

Australia – NAB Business Confidence

US – NFIB Small Business Index

Japan – Tertiary Industry Activity, Prelim Machine Tool Orders

Europe – European & German ZEW Economic Sentiments, German WPI & Final CPI

UK – Average Earnings Index, Claimant Count Change, Unemployment Rate, CB Leading Index


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