US data eyed

October 8, 2019

Plenty of data set for publication today from around the world, with traders eyeing data from the US.

The EURUSD weakened slightly overnight after opening at $1.09794. The pair edged up to $1.09894 before falling to lows of $1.09613 mid-session. The euro rallied off those lows, peaking at $1.10000 late in the day. It fell again, giving up most of its earlier gains, to its current level of $1.09721. The GBPUSD was more subdued but still ended the session lower. The pound opened the week at $1.23039 and lifted to a high of $1.23366 early in the day. It began a slow slide shortly afterwards, hitting lows of $1.22860 mid-session. It came off those lows but fell again and is now trading at $1.22887.

The Dow opened the week rather flat in what was a timid Monday trading session. The index began the week at 26,396.53 and dipped to a low of 26,381.83 in the opening hour. It remained steady throughout early and mid-session trading, before climbing to a high of 26,657.75 late in the day. It has come off that high and is now trading at 26,484.16. The Dax made a solid start to the week after opening at 12,028.94. The German index weakened early, dipping to lows of 11,962.88. It climbed off those lows, heading to a high of 12,138.60 before closing at 12,078.54.

The day ahead sees the publication of a stack of data, with the US coming into focus. The US will be publishing PPI & Core PPI data later tonight, which will be keenly watched by traders. The PPI figure is expected to show a 0.1% growth in prices (in line with the previous reading), while the Core PPI figure is forecast to show a growth of 0.2% (down slightly from the 0.3% recorded at the last reading).

Other data published today includes:

China – Caixin Services PMI

Canada – Housing Starts, Building Permits

Australia – NAB Business Confidence, ANZ Job Advertisements

UK – BoE Governor Mark Carney and MPC Members Andy Haldane & Silvana Tenreyro speak

Japan – Current Account, Average Cash Earnings, Household Spending, Economy Watchers Sentiment

US – IBD/TIPP Economic Optimism, Fed Chair Jerome Powell and FOMC Member Charles Evans speak

Europe – Italian Retail Sales, French Trade Balance, German Industrial Production, Swiss Unemployment Rate

 

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