Hectic week ahead for markets

February 17, 2020

A swathe of data is being released in what shapes up as an interesting week for markets.

The EURUSD seems stuck in its malaise, trading below $1.09 throughout Friday trading. The pair began the day at $1.08402 and slipped to a low of $1.08266 early in the day. It traded near those levels over the next several hours before pushing up to a high of $1.08607 late in the day. It has come off those highs and is now trading at $1.08388. The GBPUSD was rather flat on Friday, steadying itself after the rally it went through the day before. The pair started the day at $1.30410 and was flat early, ticking up to a high of $1.30627 mid-session. The pound fell away from that high, hitting lows of $1.29999 a few hours later. It bounced off those lows late in the day, recovering most of its earlier losses. It is now trading at $1.30512.

The Dow ended the last day of the trading week flat, despite looking shaky late in the day. The index opened at 29,437.50 and jumped to an early high of 29,528.66. It traded near those levels throughout mid-session before sliding late in the day. The Dow hit lows of 29,278.85 late before bouncing back and closing at 29,414.41. It has opened higher on Monday and is now trading at 29,465.00. The Dax made slight gains on Friday in a mainly positive session. The German index opened at 13,276.07 and climbed early, peaking at 13,792.69. It ebbed and flowed for most of the day, sliding to a low of 13,709.41 late before a late rebound saw it close at 13,752.11.

The week ahead sees the publication of plenty of data headlined by some vital economic figures from the UK. The UK publishes CPI data on Wednesday, Retail Sales on Thursday and Flash Services & Manufacturing PMIs on Friday.

Data released today and the most important this week includes:

Today – UK Rightmove HPI, Japan Revised Industrial Production, German Buba Monthly Report, Eurogroup Meetings

Tuesday – German ZEW Economic Sentiment, Australian Monetary Policy Meeting Minutes

Wednesday – UK CPI, Australian Wage Price Index

Thursday – UK Retail Sales, FOMC Meeting Minutes, Australian Employment Change and Unemployment Rate, ECB Monetary Policy Meeting Accounts

Friday – US, UK, European, German and French Flash Manufacturing and Services PMIs

 

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