Data-packed week ahead

November 18, 2019

A swathe of data is scheduled for publication this week, with data being released from around the world ensuring an interesting week ahead.

The USD weakened on Friday, sending paired currencies higher to round out the week. The EURUSD opened the day at $1.10221 and traded in a tight range early, dipping to a low of $1.10136 mid-session. The euro bounced off those lows as it headed to a peak of $1.10563 late in the day. It is not far off those highs, currently trading at $1.10514. The GBPUSD took advantage of a falling USD after opening at $1.28807. The pair was steady in early trading before slipping to lows of $1.28663 mid-session. The pound climbed off those lows, hitting a high of $1.29185 late in the day. It has opened Monday near those highs and is now trading at $1.29152.

The Dow went off to the races on Friday, hitting new record highs as it surpassed 28,000 for the first time. The index began the day at 27,768.21 and bottomed-out at 27,759.11 in the opening hour of the day. The Dow rallied off those lows, making modest gains in the first half of the day before those gains accelerated late in the session, where it peaked at 28,001.68 before closing at 27,997.00. The Dax endured a roller coaster session but eventually eked out some small gains to end the trading week. The German index opened the day at 13,211.06 and rallied in early trading, peaking at 13,282.56. Mid-session trading saw the Dax fall to lows 13,172.84 before rebounding somewhat and closing at 13,241.25.

The week ahead is littered with crucial economic data, while meeting minutes from central banks are also worth keeping an eye on. Data published today and the most significant this week include:

Today – UK Rightmove HPI, German Buba Monthly Report

Tuesday – Australian Monetary Policy Meeting Minutes

Wednesday – Building Permits

Thursday – FOMC Meeting Minutes, ECB Monetary Policy Meeting Minutes, Canadian CPI

Friday – US Flash Manufacturing & Services PMIs, European, German and French Flash Manufacturing & Services PMIs, Canadian Core Retail Sales, ECB President Christine Legarde and BoC Governor Stephen Poloz speaks

 

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