Quiet end to the week
A relatively light day for data as far as Friday’s go but will it still be a rocky day ahead for markets?
The USD strengthened overnight, pushing paired currencies down. The EURUSD opened at $1.1297 and remained flat early, before pushing up to a high of $1.11621 mid-session. The euro began it’s decline shortly afterwards, dropping to a low of $1.10923. It has come off those lows and is currently trading at $1.11019. The GBPUSD began the day at $1.29138 and was steady early, ticking up to a high of $1.29491 mid-session. The pound fell from that point a short time later, bottoming-out at $1.27869 late in the day. It has rebounded off those lows and is now trading at $1.28376.
The Dow fell slightly overnight on the back of poor earnings data from some companies. The index started the day at 26,869.44 and was flat for the first half of the day, edging up to a high of 26,928.30 late in the day. It fell during the closing hours, hitting a low of 26,718.66. It has come off those lows and is now trading at 26,818.86. The Dax continues to withstand the troubles of the Dow, posting more gains overnight. The German index opened at 12,821.95 and dipped to a low of 12,803.01 shortly after the open. After trading flat for a few hours, the Dax shot up to a high of 12,913.36. It gave up some of those gains and remained steady for the rest of the session, closing at 12,873.78.
The day ahead sees very little in the way of data being published but Friday has the ability to throw a curve ball or two. Earnings data for some of the largest companies in the US continues to be released tonight, which could bring volatility to the Dow, S&P 500 and NASDAQ.
Data published today includes:
Europe – German GfK Consumer Climate, German Ifo Business Climate
US – Revised UoM Consumer Sentiment & Inflation Expectations, Federal Budget Balance
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