Markets await consumer data

November 26, 2019

Investors turn to the US as they wait for some important data to be published. Meanwhile, a couple of central bank heads speak.

The EURUSD traded in a tight range to start the week in timid fashion. The pair began the week at $1.10158 and edged up to a high of $1.10316 mid-session. The euro did not stay there for long as declined throughout the back half of the day, hitting lows of $1.10026 late in the day. It has come off those lows and is currently trading at $1.10108. The GBPUSD in contrast, began the week strongly after opening at $1.28500. The pair dipped to lows of $1.28401 early in the day before bouncing back and climbing for most of the day. The pound peaked at $1.29112 late in the day and it is not far off that at the moment, currently trading at $1.28988.

The Dow started the week in solid fashion, breaking back through the 28,000 barrier. The index opened at 27,944.51 and slipped to lows of 27,923.43 in the opening hour of trade. It recovered those losses and remained flat for a large chunk of the day. Late trading saw the Dow lift to highs of 28,063.97 before it closed at 28,049.50. The Dax made some modest gains overnight after opening at 13,217.69. The German index edged up to highs of 13,272.36 mid-session before dipping to lows of 13,209.59 a short time later. It came off those lows and regained almost all of the earlier losses, closing at 13,264.28.

Markets are awaiting the CB Consumer Confidence data being published by the US in the early hours of tomorrow morning. The swathe of strong economic data looks set to continue for the US, with the Consumer Confidence figure expected to increase slightly to 126.9 (up from 125.9 at the last reading).

Other data published today includes:

Japan – SPPI, BoJ Core CPI

Canada – Corporate Profits

UK – High Street Lending

NZ – Trade Balance, RBNZ Financial Stability Report, RBNZ Governor Adrian Orr speaks

Australia – RBA Governor Philip Lowe and RBA Deputy Governor Guy Debelle speak

US – Goods Trade Balance, Prelim Wholesale Inventories, HPI, S&P/CS Composite-20 HPI, Richmond Manufacturing Index, New Home Sales, Fed Chair Jerome Powell and FOMC Member Lael Brainard speak


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