A stack of data expected this week
Plenty of data is scheduled for publication this week, with some significant data scattered throughout.
The USD strengthened on Friday, sending paired currencies down to end the week. The EURUSD began the day at $1.10577 and remained steady early, lifting up to a high of $1.10869 mid-session. The euro decline from those highs late in the day, hitting lows $1.10136 just before the close. It is not far off those lows, currently trading at $1.10201. The GBPUSD followed a similar pattern to the euro after opening at $1.29031. The pound traded in a tight range early, edging up to a high of $1.29279 mid-session. It fell from that point, bottoming-out at $1.28224. It has opened slightly higher to start the week and is currently trading at $1.28482.
The Dow ended the week strongly after opening Friday at 27.771.26. The index dipped to an early low of 27,744.21 before rebounding and climbing for most of the day thereafter. The Dow peaked at 27,892.52 before closing at 27,880.83. It has opened much higher in Monday trading and is now at 27,948.00. The Dax was largely flat on Friday but has followed the Dow’s lead and opened higher this week. The German index began Friday at 13,169.02 and shot up to a high of 13,246.94 mid-session. It was not at those highs for long, falling to lows of 13,118.77 just a few hours later. It recovered a large chunk of those losses, closing at 13,191.23. In Monday trading, it is currently at 13,225.28.
The week ahead is littered with data, while geopolitical events may play a role in the direction of markets. We are still awaiting news of the US-China trade deal, while the UK election campaign is in full swing.
Data published today and the most important this week include:
Today – German Ifo Business Climate, UK CBI Realised Sales
Tuesday – RBA Governor Philip Lowe speaks
Wednesday – US Consumer Confidence, Australian Construction Work Done, RBNZ Governor Adrian Orr speaks
Thursday – US Core & Durable Goods Orders, Prelim GDP and Chicago PMI, Australian Private Capital Expenditure, NZ ANZ Business Confidence
Friday – European CPI Flash Estimate, China Manufacturing & Non-Manufacturing PMIs, Canadian GDP
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