UK data keenly awaited

January 15, 2020

Attention turns to the UK and the release of some crucial economic data.

The EURUSD opened and closed rather flat in Tuesday trading. The pair opened the day at $1.11331 and remained flat early in the day, bumping up to a high of 1.11439 mid-session. It fell from those highs soon afterwards, hitting lows of $1.11038 heading into late trading. It came off those lows over the final few hours of the day and is now trading at $1.11260. The GBPUSD made some small gains overnight as it tries to regain the losses it suffered on Monday. The pair opened at $1.29873 and fell to lows of $1.29538 mid-session. The pound bounced off those lows, climbing to a high of $1.30326 late in the day. It’s not far off those levels and is currently trading at $1.30192.

A late rally saw the Dow end the session in positive territory after opening at 28,912.74. The index fell early, hitting lows of 28,772.40 mid-session before surging off those lows, peaking at 29,051.11 late in the day before closing at 28,964.00. The Dax suffered some small losses overnight after beginning the session at 13,493.19. The German index edged up to a high of 13,507.14 not long after the open but quickly fell away. Mid-session trading saw the Dax fall to lows of 13,365.92 before rebounding and recovering most of those losses and closing at 13,459.84.

The day ahead shapes up as another busy one for markets, with a bunch of data slated for release later today. The UK will be publishing all-important CPI data later tonight. The annualised figure is expected to show inflation hovering around 1.5%, in line with the last reading.

Other data published today includes:

Japan – M2 Money Stock, BoJ Governor Haruhiko Kuroda speaks

UK – Core CPI, PPI Input & Output, HPI, RPI, CB Leading Index, MPC Member Michael Saunders speaks

Europe – French Final CPI, European Trade Balance and Industrial Production, German Buba President Jens Weidmann speaks

US – PPI, Core PPI, Empire State Manufacturing Index, Crude Oil Inventories, Beige Book, FOMC Members Patrick Harker and Robert Kaplan speak


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