Markets look local

August 13, 2020

Attention turns to Australia as it publishes important jobs figures.

The EURUSD made some solid gains overnight after opening at $1.17390. The pair slid to lows of $1.17101 mid-session before rebounding, rallying to a high of $1.18166 late in the day. It has come away from those highs and is now trading at $1.18072. The GBPUSD opened and closed rather flat overnight. The pound began the day at $1.30463, declined to $1.30161, then edged back up to a high of $1.30670 mid-session. It fell from those highs and hit lows of $1.30042 just a few hours later before closing at $1.30304. It has started Thursday in positive fashion and is currently trading at $1.30549.

The Dow clawed back some of the losses it sustained late in the previous session. The index opened at 27,775.62 and slipped to a low of 27,700.92 early. It remained near those levels for a few hours before beginning its ascent mid-session. The Dow peaked at 28,053.08 late and is now trading at 27,935.30. The Dax started the session at 12,880.48 and slipped to lows of 12,821.73 early. Bouncing off those lows, the German index rallying to a high of 13,102.72 late. It is not far off those highs, currently trading at 13,040.10.

Focus shifts to Australia as it publishes important jobs data. The Australian economy is expected to have added 30,000 jobs over the last month, but the Unemployment Rate is expected to jump from 7.4% to 7.8% as parts of the country re-enter lockdowns to contain new virus outbreaks.

Other data published today includes:

Europe – German Final CPI, German WPI

US – Unemployment Claims, Import Prices, Natural Gas Storage

 

Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.