European data rounds out the week

January 24, 2020

A busy day ahead with a stack of data scheduled for publication throughout the day.

The EURUSD fell overnight after momentarily breaching the $1.11 mark late in the day. The pair began the day at $1.10921 and was steady for most of the session, lifting to a high of $1.11081 heading into late trading. Those highs did not last long as the euro fell to lows of $1.10355 a few hours later. It has come off those lows and is now trading at $1.10535. The GBPUSD was basically flat the entire day, edging slightly lower. The pair opened at $1.31371 and ticked up to a high of $1.31504 early in the day. The pound ebbed and flowed within a tight range for most of the day until it slipped to a low of $1.30964 late in the day. It has bounced off those lows and is now trading at $1.31180.

The Dow opened and closed flat after it looked like ending the day in the red. The index started the day at 29,135.12 and traded rather flat for the first half of the day before falling to lows of 28,958.82. However, late trading saw the Dow rally, hitting highs of 21,191.16. It is now trading at 19,194.50. The Dax ended the session in positive territory on the back of a fast-finishing Dow. The German index began the day at 13,465.75 and edged up to a high of 13,502.56 not long after the open. The Dax then began a slow slide early before momentum picked up late in the day, where it hit lows of 13,382.92. A late rally saw the Dax close at 13,488.48.

The day ahead is packed with data, with Europe coming into focus. Friday evening sees the release of a stack of PMI data from Europe, Germany and France, while the UK is also publishing PMI figures. Data published today includes:


NZ – Credit Card Spending

Canada – Retail & Core Retail Sales

China – Foreign Direct Investment

Japan – Flash Manufacturing PMI, BoJ Governor Haruhiko Kuroda speaks

US – Flash Manufacturing & Services PMIs, Treasury Secretary Steve Mnuchin speaks

UK – Flash Manufacturing & Services PMIs, MPC Member Jonathan Haskel speaks

Europe – European, German and French Flash Manufacturing & Services PMIs, ECB President Christine Legarde speaks, Belgian NBB Business Climate


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