Data-packed week ahead

September 9, 2019

Another big week coming up for markets, with both data and political events set to make markets jittery.

The EURUSD opened and closed rather flat on Friday in a non-eventful end to the week for the euro. The pair began Friday at $1.10336 and edged up to near-session highs of $110508 early in the day, before falling to lows of $1.10194 mid-session. It did not stay there for long as it rebounded, climbing to a high of $1.10565 a couple of hours later. However, it slid into the close and is now trading at $1.10227. The GBPUSD weakened slightly on Friday, taking a breather from the rallies that took place earlier in the week. The pair opened at $1.23253 and remained flat for the first several hours of the day, before bumping up to a high of $1.23432. The pound’s slide began shortly afterwards, hitting a low of $1.22780 late in the day. It is not far off that low and is now at $1.22773.

The Dow made some small gains on Friday, basically ignoring the Non-Farm employment data. The index started the day at 26,684.06 and touched lows of 26,681.86 in the opening hour. It began a slow and gradual climb up, peaking at 26,861.62 late in the day. It has come off those highs slightly and is now trading at 26,828.59. The Dax was a non-event on Friday as well, posting small gains to round out the week. The German index opened at 12,124.40 and dipped to lows 12,109.87 shortly afterwards. It bounced off those lows and headed towards a high of 12,204.35 late in the day before closing at 12,173.68.

The week ahead sees the publication of a swathe of economic data, while the ECB will be holding and interest rate meeting on Thursday night. Political events could also have a bearing on markets, with the Brexit saga rolling on. Meanwhile, markets are sitting back and waiting to see if there are any developments on the US-China trade front, considering things seem to change on a weekly basis.

Data published today and the most important this week include:

Today – UK GDP, Manufacturing Production, Construction Output, Goods Trade Balance, Index of Services, Industrial Production, China Ne Loans and M2 Money Supply, German Trade Balance, European Sentix Investor Confidence, Swiss Unemployment Rate, Australian Hone Loans

Tuesday – UK Average Earnings Index, China CPI

Wednesday – US PPI & Core PPI

Thursday – US CPI & Core CPI, European Main Refinancing Rate, Monetary Policy Statement and ECB Press Conference

Friday – US Retail & Core Retail Sales


Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.