Packed week ahead for markets

August 10, 2020

A swathe of data is scheduled for release this week, culminating in the publication of Retail Sales figures from the US on Friday.

The USD re-asserted its dominance on Friday, sending paired currencies down during the last day of the trading week. The EURUSD opened at $1.18753 and ticked u to a high of $1.18825 shortly after the open. The slide set in soon after and accelerated mid-session, hitting a low of $1.17538 late in the day. It has come off those lows and is now trading at $1.17940. The GBPUSD started Friday at $1.31402 and edged up to a high of $1.31478 in the first hour of the day. It remained steady for a few hours before the decline set in. Late trading saw the pound bottom-out at $1.30085 before rebounding slightly. It is now trading at $1.30638.

The Dow made modest gains on Friday, helped along by positive jobs figures. The index began the day at 27,379.20 and fell to lows of 27,199.70 mid-session. It bounced off those lows over the back end of the day, rallying to a late high of 27,467.29. It has come off those highs slightly and is now trading at 27,400.30. The Dax opened Friday at 12,634.12 and fell to a mid-session low of 12,511.49. Bouncing off those lows, the German index closed at a high of 12,704.35. It is not far off those highs and is currently trading at 12,689.70.

Data published today and the most significant this week includes:

Today – China CPI & PPI, Swiss Unemployment Rate, European Sentix Investor Confidence, Canadian Housing Starts

Tuesday – UK Claimant Count Change, Australian NAB Business Confidence

Wednesday – US CPI & Core CPI, UK Prelim GDP, NZ Official Cash Rate, RBNZ Rate Statement, Monetary Policy Statement and Press Conference

Thursday – US Unemployment Claims and Crude Oil Inventories, Australian Employment Change and Unemployment Rate

Friday – US Retail & Core Retail Sales, RBA Governor Philip Lowe speaks

 

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