Markets await UK data

October 15, 2019

A busy Tuesday coming up for markets, with stack of data being released.

Major currency pairs started the week rather flat, taking a breather from the rallies that occurred late last week. The EURUSD opened at $1.10308 and traded in a tight range early, before dipping to a low of $1.10119 mid-session. The euro bounced off those lows, rising to high of $1.10422 a few hours later. It came off those highs shortly afterwards and is currently trading at $1.10272. The GBPUSD began the week at $1.26222 and slid throughout early and mid-session trading, hitting a low of $1.25152. It rebounded off those lows as it peaked at $1.26485 in late training. It is not far off those highs at the moment, currently trading at $1.26046.

Indices were similar to currencies, in that they were flat to start the week. The Dow opened at 26,811.33 and rose to highs of 26,947.40 shortly after the open. It came off those highs and slid to lows of 26,687.51 mid-session. The Dow bounced off those lows and is now trading at 26,828.15, or within 20 points of Monday’s open. The Dax traded in a tight range for most of the day after starting the week at 12,473.91. The German index edged up to a high of 12,505.74 early before declining to lows of 12,382.83 mid-session. It recovered those losses late in the day, closing at 12,477.33.

The day ahead is a busy one for a Tuesday, with the UK coming into focus. The UK is set to publish Average Earnings Index data later tonight, along with a few other pieces of data. This 3-month moving average figure compares wage growth to the same 3-month period from the previous year. It is expected to show a growth in wages of 4% from a year earlier, unchanged from the last reading.

Other data published today includes:

China – CPI, PPI

Australia – Monetary Policy Meeting Minutes

US – FOMC Members Esther George and James Bullard speak

Japan – Revised Industrial Production, Tertiary Industry Activity, BoJ Governor Haruhiko Kuroda speaks

Europe – European & German ZEW Economic Sentiment, French Final CPI, Swiss PPI

UK – Claimant Count Change, Unemployment Rate, BoE Governor Mark Carney and MPC Member Gertjan Vlieghe speak

 

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