Markets look to US data
The US will once again come into focus as it publishes Consumer Confidence data.
The USD weakened overnight, allowing paired currencies to add some value. The EURUSD started the week at $1.10789 and dipped to a low of $1.10748 during the first hour of the trading day. The euro bounced off those lows and peaked at $1.11063 as it was heading unto late-session trading. It has come off those highs slightly and is currently trading at $1.10992. The GBPUSD began the week at lows of $1.28083 and trended up for most of the day. The pound hit highs of $1.28756 late in the day and is now trading at $1.28570.
The Dow made some small gains to start the week after opening at 26,999.74. The index edged down to lows of 26,984.93 in the opening hour before climbing steadily for most of the day. The Dow peaked at 27,182.37 late in the day, but has come off those highs slightly, currently trading at 27,100.77. The Dax continues to impress, posting modest gains to start the week. The German index opened the week at 12,919.41 and slid to lows of 12,885.93 early in the day. It bounced off those lows and climbed to a high of 12,986.06 late in the day before closing at 12,958.44.
The day ahead is light-on for data but there is still some significant figures being released. The US will be publishing its CB Consumer Confidence later tonight in what is normally a keenly watched data release. It is expected to show a lift in confidence, with the forecast being a figure of 128.2 (up from 125.1 posted at the last reading).
Other data published today includes:
Japan – Tokyo Core CPI
Australia – RBA Governor Philip Lowe speaks
US – Pending Home Sales, S&P/CS Composite-20 HPI
UK – Nationwide HPI, M4 Money Supply, Mortgage Approvals, Net Lending to Individuals
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