Markets end the week with a deluge of data

January 31, 2020

A smorgasbord of data greets markets today in what has been a week dominated by headlines away from financials.

The USD weakened overnight, allowing paired currencies to add some value. The EURUSD began the day at $1.10086 and dipped to a low of $1.10039 in the opening hour of trade. The euro began its slow march upwards, eventually peaking at $1.10389 late in the day. It has come off those highs slightly and is now trading at $1.10333. The GBPUSD’s move up were more pronounced yesterday after opening the day at $1.30208. The pair slid early in the day, bottoming-out at $1.29768 mid-session. From there, the pound rallied and hit highs of $1.31098 late in the day. It has come away slightly and is now trading at $1.30879.

A late rally saw the Dow end the session in positive territory. The index started the day at 28,748.46 and headed south not long after the open. It hit lows of 28,474.97 mid-session and remained near those levels for a few hours. A short reprieve was met by an equally swift pullback. The dying hours of the day saw the Dow rally to a high of 28,894.49 before closing at 28,880.50. The Dax suffered some losses overnight, closing before most of the gains were made on the Dow. The German index opened at 13,325.75 and ticked up to a high of 13,327.58 in the first hour of trade. The rot set in after that as the Dax tumbled to a late low of 13,121.41. The Dax showed signs of life in the final couple of hours of the day, helped up by a rallying Dow, closing at 13,245.03.

Markets turn their eye to China, and not because of the coronavirus outbreak. They will be publishing important Manufacturing and Non-Manufacturing PMI data later today. The Manufacturing data is expected to show a slight growth in the sector of 50.1 (50 is break-even), while the Non-Manufacturing figure is tipped to come in at 53.1.

Other data published today includes:

Australia – PPI, Private Sector Credit

Canada – GDP, RMPI, IPPI

UK – GfK Consumer Confidence, M4 Money Supply, Net Lending to Individuals

Japan – Tokyo Core CPI, Unemployment Rate, Prelim Industrial Production, Housing Starts, Retail Sales

US – Core PCE Price Index, Employment Cost Index, Personal Spending, Personal Income, Chicago PMI, Revised UoM Consumer Sentiment & Inflation Expectations

Europe – European Prelim Flash GDP, French & Spanish Flash GDPs, European CPI & Core CPI Flash Estimates, Italian Prelim GDP, Spanish Flash CPI, French Prelim CPI, French Consumer Spending, German & Swiss Retail Sales


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