Data-packed week coming up
A stack of data is scheduled for publication this week which could bring some volatility to markets.
The EURUSD made some modest gains on Friday after opening the day at $1.11051. The pair remained steady early before sliding to lows of $1.10843 mid-session. The euro bounced off those lows, climbing to highs of $1.11286 late in the day before closing at $1.11203. It has opening slightly lower to start the week and is now trading at $1.11136. The GBPUSD was largely flat to end the week after beginning the day at $1.30652. The pound traded in a tight range for most of the day, edging up to a high of $1.30964 late in the day before dipping to lows of $1.30413 a few hours later. It has opened a touch lower and is now trading at $1.30371.
The Dow set another record on Friday, breaking through the 29,000 barrier before ending the day lower. The index began the day at 28,966.14 and climbed steadily, peaking at 29,055.27 mid-session. It remained above 29,000 for a few hours before falling over late trading, hitting lows of 28,783.10 and closing at 28,803.50. The day was largely flat on Friday, closing the day slightly lower. The German index opened Friday at 13,520.20 and ticked up to a high of 13,555.74 in the opening hour of the day. It was virtually flat for a vast majority of the day, with the Dax showing some more movement very late in the session. The Dax bottomed-out at 13,434.26 before closing at 13,463.83.
The week ahead is set to be a busy one, with a smorgasbord of data being released. This week’s headline data is CPI & Retails figures from the US and UK, while China and the UK will be publishing GDP data.
Data published today and the most significant this week includes:
Today – Australian MI Inflation Gauge, German WPI, Italian Retail Sales, UK GDP, Manufacturing Production, Construction Output, Goods Trade Balance, Index of Services, Industrial Production and NIESR GDP Estimate
Tuesday – China Trade Balance and New Loans, NZ NZIER Business Confidence, BoC Business Outlook Survey
Wednesday – US CPI & Core CPI, UK CPI, MPC Member Michael Saunders speaks
Thursday – US Crude Oil Inventories, BoE Credit Conditions Survey, ECB Monetary Policy Meeting Accounts
Friday – US Retail & Core Retail Sales, UK Retail Sales, China GDP, ECB President Christine Legarde speaks
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