US dominates another busy week for markets

February 10, 2020

A stack of data is being published this week which could bring with it some volatility and opportunity.

The USD strengthened on Friday, sending paired currencies down to round out the week. The EURUSD began the day at $1.09820 and edged up to a high of $1.09844 early in the day before falling away for most of the session. The euro hit lows of $1.09414 late in the day and that is where it is currently trading. The GBPUSD looked more positive for most of the day before succumbing to the pressure placed on it by the dollar. The pound opened at $1.29265 and traded in a tight range for most of the day, hitting highs of $1.29593 late in the day. It fell away from those highs, bottoming-out at $1.28802 just before the close. It is now trading at $1.28876.

The Dow gave up some of the gains made earlier in the week, ending Friday in negative territory. The index started the day at 29,396.10 and ticked up to 29,413.71 in the opening hour of trade. The slide began shortly afterwards with the Dow eventually hitting lows of 29,050.71 late and closing at 29,078.00. The Dax suffered some losses on Friday, weighed down by a falling Dow. The German index opened at a high of 13,591.18 and fell early before remaining steady for most of the day. The Dax hit lows of 13,459.13 late in the day and closed at 13,474.43.

The week ahead is packed with data, with significant market information scattered throughout. US inflation and retail data headlines economic data releases, while central bank heads from the US, England, Europe, Australia and NZ all speak at various stages.

Data published today and the most significant this week includes:

Today – Japanese Bank Lending, Economy Watchers Sentiment and Current Account, China CPI and PPI, Swiss CPI and Unemployment Rate, European Sentix Investor Confidence, Italian Industrial Production

Tuesday – UK Prelim GDP (quarterly), GDP (monthly) and Manufacturing Production

Wednesday – NZ Official Cash Rate, RBNZ Monetary Policy Statement, Rate Statement and Press Conference, Fed Chair Jerome Powell, ECB President Christine Legarde and BoE Governor Mark Carney speak

Thursday – Fed Chair Jerome Powell, RBA Governor Philip Lowe and RBNZ Governor Adrian Orr speak

Friday – US CPI, Core CPI, Retail Sales and Core Retail Sales, German Prelim GDP


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.