A smorgasbord of data awaits markets

June 29, 2020

A data-heavy week coming up for markets, including an early release of US jobs figures.

The EURUSD opened Friday at $1.12159 and climbed steadily early in the day, peaking at $1.23391 mid-session. It fell away shortly afterwards however, as the euro declined to lows of $1.11946 heading into late-session trading. It bounced off those lows late in the day and that momentum has continued during early Monday trading. It is now trading at $1.12430. The GBPUSD threatened to fall below $1.23 on Friday after opening at $1.24176. The pound edged up to a high of $1.24360 early before tumbling over mid-session trading, hitting lows of $1.23132. It has come off those lows and is now trading at $1.23669.

Indices gave up a large portion of gains they made earlier in the week. The Dow began Friday at 25,667.09 and traded in a tight range during the first half of the day, lifting to a high of 25,784.51. Late trading saw the index plummet to lows of 24,947.92. It opened Monday lower again but has made some gains and is now trading at 25,091.02. The Dax began Friday at 12,284.94 and climbed to highs of 12,439.02 early. Mid-session trading saw the German index slide, bottoming-out at 12,023.35 late. It is not far off those lows and is currently trading at 12,050.50.

The week ahead sees a stack of data being released, with the US Non-Farm figures in the sights of traders and analysts alike. This data is typically published on a Friday night, but has been brought forward by a day due to the US Independence Day public holiday.

Data published today and the most important this week includes:

Today – US Pending Home Sales, Spanish Flash CPI, German Prelim CPI, Canadian Building Permits, IPPI and RMPI, UK Mortgage Approvals, M4 Money Supply, Net Lending to Individuals, BoE Governor Andrew Bailey and MPC Member Gertjan Vlieghe speak

Tuesday – China Manufacturing & Non-Manufacturing PMIs, Canadian GDP

Wednesday – US ADP Non-Farm Employment Change, Fed Chair Jerome Powell testifies

Thursday – US Non-Farm Employment Change, Average Hourly Earnings, Unemployment Claims and Unemployment Rate

Friday – UK & European Final Services PMIs


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