US data looms

October 13, 2020

Attention turns to the US as it releases important data. Meanwhile, Donald Trump returns to the campaign trail.

The EURUSD was largely flat to start the week after opening at $1.18094. The pair crept up to a high of $1.18258 mid-session before falling away to lows of $1.17859. It climbed off those lows late in the day and is now trading at $1.18117. The GBPUSD made modest gains overnight when it started the week at $1.30220. It remained steady early but the slipped to lows of $1.30045 mid-session. The pound bounced off those lows, peaking at $1.30818 late in the day. It has come off those high and is now trading at $1.30640.

Indices got off to a solid start this week, with the Dow and the Dax major beneficiaries. The Dow opened at 28,592.92 and dipped to a low of 28,551.98 early. Mid-session saw the Dow begin its rally and it eventually hit a high of 28,966.28 late in the day. It has come off those highs and is now trading at 28,902.30. The Dax began the week at 13,043.93 and slipped to an opening-hour low of 13,024.93. From there, the German index rebounded and headed north for most of the day, peaking at 13,177.57 before closing at 13,156.80.

The day ahead sees the publication of CPI & Core CPI data from the US. Both inflation figures are expected to come in at 0.2%, down from the 0.4% recorded at last reading.

Other data published today includes:

US – NFIB Small Business Index, Federal Budget Balance

China – Trade Balance, USD-Denominated Trade Balance

UK – Claimant Count Change, Average Earnings Index, Unemployment Rate

Europe – European & German ZEW Economic Sentiment, German Final CPI


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