The week ahead
A stack of data is scheduled for release this week as a myriad of trading instruments come into play.
The EURUSD made meagre gains on Friday after beginning the day at $1.18119. The pair was steady early, falling away to lows of $1.17810. Rebounding off that lows, the euro climbed to a late high of $1.18501. It is now trading at $1.18460. The GBPUSD opened at $1.30663 and slipped to lows of $1.30451 in the first hour of the trading session. It remained near those lows for several hours before gaining upward momentum mid-session. The pound peaked at $1.31423 late but came away during the final hours of the week. It is now trading at $1.30997.
The Dow opened and closed flat, however it looked in trouble halfway through the day. The index started Friday at 27,910.31 and lifted to a high of 27,994.21 mid-session. Those highs were given up rapidly as the Dow fell to lows of 27,684.92. It bounced off those lows, climbing as high as 27,984.26. It is currently trading at 27,943.30. The Dax continued the negative trend that had plagued it over the back half of the week. The German index began the day at 12,990.24 and edged up to a high of 13,014.00 heading into mid-session trading. A sell-off ensued with the Dax falling to lows of 12,786.70 a few hours later. It was unable to ride the Dow wave and held onto most of its losses for the rest of the day. It is now trading at 12,856.10.
The week ahead sees the publication of a swathe of data with Friday shaping up as a potentially volatile one. Information published today and the most significant this week includes:
Today – Japanese Revised Industrial Production, Canadian Foreign Securities Purchases, US Empire State Manufacturing Index and NAHB Housing Market Index
Tuesday – Australian Monetary Policy Meeting Minutes
Wednesday – UK CPI & Core CPI, OPEC-JMMC Meetings
Thursday – US FOMC Meeting Minutes, Unemployment Claims, CB Leading Index, Crude Oil Inventories
Friday – US, UK, European, German and French Flash Manufacturing and Services PMIs, UK Retail Sales
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