Packed week ahead

November 4, 2019

Another big week coming up for markets, with a swathe of data slated for release.

The EURUSD remained largely unchanged on Friday after opening at $1.11505. The pair edged up to near-session highs of $1.11683 mid-session. It slipped shortly afterwards, hitting a low of $1.11272. The euro then bounced off those lows, peaking at $1.11711 late in the day and is currently trading at $1.11647. The GBPUSD looked set for small gains on Friday until a slip late in the day saw the pair end the day flat. The GBPUSD opened at $1.29394 and dipped to a low of $1.29233 in the opening hour of the day. It rebounded from that point, where it climbed to a high of $1.29722 mid-session. The back end of the day saw the pound slide, where it ended the week at $1.29373. It has opened slightly lower on Monday and is now trading at $1.29281.

The Dow went off to the races on Friday, buoyed by strong jobs data published on Friday night. The index began the day at 27,050.29 and dipped to lows of 27,026.43 in the opening hour of the day. The Dow bounced off those lows and remained steady throughout the first half of the day. The back half of the day saw the Dow rally from 27,067.23 to hit a high of 27,345.88 late in the day, before closing at 27,326.67. The Dax made some solid gains on Friday, helped up by a rallying Dow. The German index opened at 12,907.88 and climbed to 12,951.45 before edging back to a low of 12,895.13 mid-session. It rallied off those lows, hitting highs of 12,991.83 late in the day, before closing at 12,977.62.

The week ahead sees the publication of a stack of data throughout the week, while a couple of central banks meet this week. Data released today and the most important this week include:

Today – Swiss SECO Consumer Climate, European, German and French Final Manufacturing PMIs, Italian and Spanish Manufacturing PMI, European Sentix Investor Confidence, UK Construction PMI

Tuesday – RBA Cash Rate & Rate Statement, ECB President Christine Legarde speaks

Wednesday – US ISM Non-Manufacturing PMI, Canadian Trade Balance, NZ Employment Change & Unemployment Rate

Thursday – UK Official Bank Rate, BoE Monetary Policy Summary, Asset Purchase Facility and Inflation Report, BoE Governor Mark Carney speaks, EU Economic Forecasts

Friday – RBA Monetary Policy Statement, Canadian Employment Change and Unemployment Rate

 

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