Busy week coming up for markets

July 6, 2020

A host of data is scheduled for publication this week in what shapes up to be another interesting one for markets.

The EURUSD opened Friday at $1.12385 and traded steady early, before falling away to lows of $1.12185 mid-session. It bounced off those lows and climbed to a high of $1.12510 late in the day. It is now trading at $1.12628. The GBPUSD opened at $1.24600 and was steady early before a moment of volatility saw the pound hit a high of $1.24859 and a low of $1.24370 in the same hour. It regained most of its losses late in the day and is now trading at $1.24796.

The Dow started Friday at 25,849.75 and was flat early, edging up to a high of 26,000.56 mid-session. It gave up those highs as it fell to a low of 25,557.54 and eventually closing at 25,744.72. It has started the week strongly and is now trading at 25,972.24. The Dax opened at 12,570.63 and was steady early, before lifting to a high of 12,664.52 mid-session. It came away from those highs, hitting lows of 12,468.82 and ending the week at 12,583.07. It has opened Monday higher and is now trading at 12,659.80.

The week ahead sees the release of a stack of information, both locally and internationally. Markets and traders will be keeping a keen eye on the ISM Non-Manufacturing PMI data from the US that is being published later tonight. It is expected to show that the PMI is on the cusp of expansion once again with a figure of 50.0 forecast, up from 45.4 at the previous reading.

Data published today and the most significant this week includes:

Today – Australian ANZ Job Ads, US Final Services PMI, European Retail Sales and Sentix Investor Confidence, German Factory Orders, UK Construction PMI and Housing Equity Withdrawal

Tuesday – Australian Cash Rate, RBA Rate Statement

Wednesday – EU Economic Forecasts

Thursday – US Unemployment Claims and Crude Oil Inventories, Eurogroup Meetings, NZ ANZ Business Confidence

Friday – US PPI and Core PPI, Canadian Employment Change and Unemployment Rate