US data rounds out the week
More US is set for release as another trading week comes to a close.
The EURUSD slid once again overnight after opening at $1.12495. The pair ticked up to a high of $1.12593 early before falling over mid-session trading to a low of $1.11897. It bounced off those lows over late trading and is managing to stay above $1.12 currently. It is now trading at $1.12153. The GBPUSD started the day at $1.24176 and climbed to a high of $1.24637 mid-session. It fell shortly afterwards, hitting lows of $1.23879. Like the euro, the pound has come off those lows and is now trading at $1.24169.
Indices bounced back overnight after the big sell-off seen in the previous session. The Dow began the day at 25,507.69 and after a period of remaining steady, it fell to lows of 25,129.32 mid-session. It rebounded and rallied over the back half of the day where it peaked at 25,792.04 late. It has come off those highs slightly and is now trading at 25,660.17. The Dax was buoyed by what the Dow was doing and also added value overnight. The German index opened at 12,108.67 and fell in early trading, hitting lows of 11,933.56. It surged off those lows, hitting highs of 12,319.83 late in the day. It is now trading at 12,296.20.
The day ahead once again sees the US come into focus as it publishes several pieces of economic data. After a contraction of 13.6% at last reading, Personal Spending data is expected to show a growth of 8.9%. It is one indicator that can point to consumer confidence.
Other data published today includes:
UK – BoE Quarterly Bulletin
Europe – German Import Prices, M3 Money Supply, European Private Loans
US – Personal Income, Core PCE Price Index, Revised UoM Consumer Sentiment & Inflation Expectations
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