Week ahead littered with activity

September 23, 2019

A swathe of data is being published this week, while there is also plenty of central bank activity coming up.

The USD gained in value on Friday, pushing paired currencies down. The EURUSD started Friday at $1.10400 and edged up to a high of $1.10671 mid-session. The pair tumbled shortly afterwards, hitting a low of $1.09955 late in the day. It has bounced off those lows and is now trading at $1.10187. The GBPUSD followed a similar path after opening the day at $1.25202. The pound was steady early, before climbing to highs of $1.25817 mid-session. It dropped not long after that, falling to lows of $1.24584 late in the day. It is not far off those lows and is currently trading at $1.24709.

The Dow fell on Friday after remarks from Donald Trump regarding trade talks with China. He expects them to remain unresolved as he heads for re-election in 2020. The index opened the day at 27,091.92 and was largely flat for most of the day, bumping up to a high of 27,194.49 late in the day. It fell away soon after however, dropping to a low of 26,902.87 in the final hour of the week. It has opened higher and is now trading at 27,033.43. The Dax looked set for another positive session until the Dow weighed it down late in the day. The German index opened at 12,430.90 and was steady early before lifting to a high of 12,486.14 mid-session. It remained near those levels for a few hours and then slid late, hitting a low of 12,399.95 before closing at 12,400.98.

The week ahead see the publication of a host of data, with the US Final GDP and Core Durable Goods Orders figures being the most significant. The week also sees several leading central bank figures speaking throughout the week.

Data published today and the most significant this week includes:

Today – China CB Leading Index, Canadian Wholesale Sales, UK CBI Industrial Order Expectations, European, German and French Flash Manufacturing PMIs, European, German and French Flash Services PMIs, German Buba Monthly Report, US Flash Manufacturing & Services PMIs, ECB President Mario Draghi, MPC Member Silvana Tenreyro and FOMC Members John Williams and James Bullard all speak

Tuesday – BoJ Governor Haruhiko Kuroda and RBA Governor Philip Lowe speak

Wednesday – US CB Consumer Confidence, NZ Official Cash Rate and RBNZ Rate Statement

Thursday – US Final GDP & Crude Oil Inventories, ECB President Mario Draghi and BoE Governor Mark Carney speak

Friday – US Core Durable Orders & Personal Spending, FOMC Press Conference

 

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