Australian data looms
A hectic day coming up with a stack of data slated for release throughout the day.
The EURUSD opened Wednesday at $1.12627 and was flat early, edging up to a high of $1.12934 mid-session. The following few hours saw the euro fall to lows of $1.12057 before regaining some of those losses late in the day. It is currently trading at $1.12439. The GBPUSD was mainly flat yesterday after starting the day at $1.25703 and fell away slightly before picking up and hitting a mid-session high of $1.25882. Late trading saw the pound fall to lows of $1.25095. It has come off those lows and is now trading at $1.25515.
There was very little movement in indices overnight, consolidating their positions after large movements over the last week. The Dow opened at 26,302.49 and traded in a tight range early, lifting to a high of 26,632.36 mid-session. The back half of the day saw the Dow decline gradually, hitting lows of 26,067.40 late. It has started Thursday on shaky ground and is now trading at 25,964.00. The Dax began the session at 12,306.17 and slipped to lows of 12,208.97 early. The German index turned its fortunes around, peaking at 12,426.43 mid-session. It remained near those levels for the rest of the day. It has opened Thursday lower and is now trading at 12,257.67.
The day ahead is full of data announcements with markets looking to crucial jobs figures from Australia. The Australian economy is expected to lose a further 105,000 jobs as the coronavirus shutdowns continue to affect thousands of businesses. The Unemployment Rate is forecast to rise to 6.9%, up from 6.2% recorded last month.
Other data published today includes:
Australia – RBA Bulletin
Canada – NHPI, ADP Non-Farm Employment Change
UK – Official Bank Rate, Asset Purchase Facility, Monetary Policy Summary, Wholesale Sales, Governing Council Member Lawrence Schembri speaks
US – Unemployment Claims, Philly Fed Manufacturing Index CB Leading Index, Natural Gas Storage, FOMC Member Loretta Mester speaks
Europe – SNB Policy Rate, Monetary Policy Assessment and Press Conference, Italian Trade Balance, ECB Economic Bulletin
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