Markets eye growth data
A much busier day for markets with a host of economic figures scheduled for publication.
The EURUSD made slights gains overnight after opening the day at $1.10129. The pair traded in a tight range for most of the day, slipping to lows of $1.10064 late in the day. It bounced off those lows, lifting to a high of $1.10250 just before the close. It is currently trading at $1.10212. The GBPUSD gave up most of the gains in made earlier in the week after beginning the session at $1.28978. The pair bumped up to a high of $1.29031 early in the day before it began its slide. the pound bottomed-out at $1.28343 late in the day before rebounded to its current $1.28596 level.
The Dow made some small gains overnight, continuing its solid start to the week. The index opened at 28,050.24 and quickly hit highs of 28,169.41 in what looked like a day where the Dow would continue to rally. However, the Dow came off those highs, falling to lows of 28,020.27 mid-session. The Dow lifted off those lows, regaining almost all of the previous losses to close at 28,155.00. The Dax suffered small losses during the last session, unable to follow the Dow’s lead. The German index started the day at 13,265.58 and spiked to a high of 13,317.26 shortly after the open. The highs were short-lived however with the Dax eventually hitting lows of 13,191.75. It bounced off those lows late in the day and closed at 13,246.65.
The day ahead sees the publication of a stack of data, with the most significant emanating from the US. The US will be releasing Prelim GDP figures in the early hours of tomorrow morning. It is expected to show that the economy grew by 1.9%, in line with the last reading.
Other data published today includes:
UK – BRC Shop Price Index
Australia – Construction Work Done
Europe – German Import Prices, Credit Suisse Economic Expectations
US – Durable & Core Durable Goods Orders, Chicago PMI, Prelim GDP Price Index, Unemployment Claims, Pending Home Sales, Personal Spending & Income, Crude Oil Inventories, Natural Gas Storage, Beige Book
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