US data eyed

July 28, 2020

A relatively quiet day for markets with only a few pieces of data scheduled for release.

The EURUSD powered its way to $1.17 overnight after opening the week at $1.16410. The pair dipped to a low of 1.16391 in the opening hour of trade before bouncing back and rallying to a high of $1.17805 mid-session. It came away from those highs but has remained steady since then and is currently trading at $1.17571. The GBPUSD followed a similar path to the euro after beginning the week at $1.27807. The pound slipped to early lows of $1.27730 but rebounded quickly, surging to a high of $1.29026 mid-session. It retraced slightly and was steady for the rest of the session. It is now trading at $1.28850.

Indices got off to a steady start this week, reversing some of the losses suffered late last week. The Dow opened the week at 26,409.49 and slipped to early lows of 26,338.87. It climbed off those lows, eventually hitting a high of 26,631.95 late in the day. It has continued its positive start to the week and it is now trading at 26,680.30. The Dax was mainly flat overnight after starting the week at 12,825.33. Mid-session trading saw the German index hit lows of 12,801.23 and highs of 12,907.98 in the same hour. It retreated from those highs and remained steady for the rest of the trading day. It has opened Tuesday higher and is now trading at 12,956.50.

The day ahead sees the publication of consumer confidence from the US. The CB Consumer Confidence figure is tipped to come in at 94.0, down from the 98.1 registered last month.

Other data published today includes:

Europe – Spanish Unemployment Rate

UK – CBI Realised Sales

US – Richmond Manufacturing Index, S&P/CS Composite-20 HPI


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