European data awaits
A stack of data is slated for publication today, with Europe coming into focus.
The EURUSD added some value overnight, thanks to a weaker USD. The pair began the week at $1.11816 and dipped to lows of $1.11675 early in the day. Those lows were not held for long as the euro rallied for most of the day, peaking at $1.12693 late in the day, which is where it is at currently. The GBPUSD opened at $1.23401 and slid to a low of $1.23334 in the opening hour of trade. The gains began gradually, the gained momentum a few hours later, with the pound hitting highs of $1.24758 late. It has started Tuesday strongly and is now trading at $1.24847.
The Dow was shaky early before posting solid gains to start the week. The index opened at 25,493.22 and slipped to an opening-hour low of 25,358.46. It bounced off those lows as it rallied to a late high of 26,114.37. That momentum has continued through to Tuesday and the Dow is now trading at 26,167.23. The Dax started the week at 12,095.83 and fell to lows of 12,061.41 in the first hour of the day. It climbed off those lows and reached highs of 12,385.63 before falling away slightly and closing at 12,318.38. It has opened Tuesday higher and is now trading at 12,365.96.
The day ahead sees the release of an array of data from around the world, with Europe being the centre of attention. The continent will be publishing European-wide, German and French Manufacturing and Services PMI data. As countries in Europe begin to end lockdowns, these figures become important indicators as to the strength and speed of economic recoveries.
Data published today includes:
Japan – BoJ Core CPI
UK – Flash Manufacturing & Services PMIs, BoE Governor Andrew Bailey speaks
US – Flash Manufacturing & Services PMIs, Richmond Manufacturing Index
Europe – European, German and French Flash Manufacturing & Services PMIs
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.