US inflation data eyed
Some important data being released in the early hours of tomorrow morning as attention turns to the US.
The EURUSD made some small gains overnight after beginning the week at a low of $1.11109. The euro edged up in early trading then fell back to a near session low of $1.11119. The pair bounced from there, climbing to a high of $1.11465 late in the day. It has come off those highs and is currently trading at $1.11359. The GBPUSD went in the opposite direction yesterday after opening the week at $1.30338. The pair lifted to a high of $1.30439 early in the day and remained near those levels for a few hours. Mid-session trading saw the pound fall below $1.30, hitting lows of $1.29597. It came off those lows late in the day and is now trading at $1.29887.
The Dow broke back through the 29,000-mark overnight in what was a steady start to the week. The index opened Monday at 28,830.33 and climbed throughout the first half of the day, peaking at 28,942.72 mid-session. It fell away from those highs, dropping to lows of 28,814.55 before recovering and closing at 28,900.00. The Dax closed slightly higher but looked at some stages to be in for a great start to the week and also a horrible one at other stages. The German index started the week at 13,475.97 and lifted to a high of 13,535.84 mid-session. However, those highs were not held on for long as it tumbled to lows of 13,406.87 late. There was one more turn left in the day as the Dax rebounded and closed at 13,479.01.
The day ahead sees the publication of all-important CPI and Core CPI data from the US. Inflation is expected to come in at 0.2% (down from 0.3%) while Core CPI is expected to remain steady at 0.2%.
Other data published today includes:
China – Trade Balance, USD-Denominated Trade Balance
Japan – Bank Lending, Current Account, Economy Watchers Sentiment
US – NFIB Small Business Index, IBD/TIPP Economic Optimism, FOMC Member John Williams speaks
Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.