Markets await US data
A busy day coming up for markets, with a stack on information set for release.
A weakening USD sent paired currencies up overnight. The EURUSD started the week at $1.16194 and slipped to lows of $1.16143 early. Bouncing off those lows, the euro rallied to a high of $1.16794 heading into late trading. It fell from those highs but has since regained most of those losses and is currently trading at $1.16777. The GBPUSD surged overnight after opening the week at a low of $1.27484. Early trading saw the pair remain steady before taking off mid-session, where it peaked at $1.29293. The pound fell away from those highs and is now trading at $1.28659.
The Dow continued its march north that started last Friday. After beginning the week at a low of 27,191.27, the Dow climbed in a steady manner, hitting a high of 27,722.90 late in the day. It has come off those highs slightly and is now trading at 27,695.30. The Dax enjoyed a positive start to the week after opening at 12,553.22. After a quick dip to a low of 12,533.25, the German index rallied to a high of 12,878.69 late in the day. That momentum has been carried into Tuesday and is now trading at 12,898.70.
The day ahead sees focus shift to the US and the publication of CB Consumer Confidence figures. Experts are forecasting that the Consumer Confidence figure will come in at 90.0, up from 84.8 recorded at last reading.
Other data published today includes:
Canada – IPPI, RMPI
Europe – Spanish Flash CPI
UK – M4 Money Supply, Mortgage Approvals, Net Lending to Individuals
US – Goods Trade Balance, Prelim Wholesale Inventories, S&P/CS Composite-20 HPI, FOMC Members John Williams, Patrick Harker, Richard Clarida and Randal Quarles speak
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