US data eyed as Treasury Secretary speaks
Attention stays on the US with the publication of weekly jobs-related data.
The EURUSD continues to flail about, falling below $1.17 overnight. The pair began the day at $1.17064 and fell to $1.16710 mid-session. It bounced from that point, hitting a high $1.17186 heading into late trading. Those highs were given up late in the day, as the euro hit lows of $1.16504. It is slightly off those lows, currently trading at $1.16674. The GBPUSD was more resilient, ending the session flat. The pair opened the day at $1.27280 and fell over early trading, hitting lows of $1.26741 mid-session. Rebounding off those lows, the pound raced to a late high of $1.27765. It came away from those highs and closed at $1.27246, where it is trading now.
Indices were hammered again overnight, wiping out any optimism that was held after the previous session. The Dow began the session at 27,346.26 and looked in good shape over the first half of the day, peaking at 27,511.84 mid-session. Things turned ugly soon after however, with the index plummeting to lows of 26,704.98 just before the close. It has come off those lows and is now trading at 26,830.30. The Dax got off to a great start but was ultimately pulled down by the Dow in a forgettable night for the flagship European index. The Dax opened at 12,689.39 and shot up to a high of 12,823.86 mid-session. Like the Dow, the Dax tumbled form those highs, bottoming-out at 12,519.71. It is not far from those lows and is currently trading at 12,541.50.
The day ahead sees the release of Unemployment Claims data from the US. A further 845,000 people are forecast to have claimed unemployment insurance over the previous week. Meanwhile, Steve Mnuchin is scheduled to testify about the CARES Act before the Senate Banking Committee.
Other data published today includes:
Japan – BoJ Core CPI
UK – BoE Governor Andrew Bailey speaks, CBI Realised Sales
US – New Home Sales, Natural Gas Storage, FOMC Member John Williams speaks, Fed Chair Jerome Powell testifies
Europe – SNB Policy Rate and Monetary Policy Statement, ECB Economic Bulletin, German Ifo Business Climate, Belgian NBB Business Climate
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