A stack of data awaits markets

October 19, 2020

A smorgasbord of data is scheduled for publication this week in what shapes up to be another busy one for traders.

The EURUSD made small gains on Friday after commencing the day at $1.17064. It was flat early before dipping to lows of $1.16934 mid-session. The euro climbed off those lows, hitting a high of $1.17456 heading into late trading. It gave up most of those gains late in the day and is now trading at $1.17167. The GBPUSD opened the day at $1.28777 and was steady early, ramping up to a high of $1.29616 mid-session. It fell from those highs and hit a low of $1.28611 in the same hour before rebounding late in the day. It is now trading at $1.29309.

Indices finished Friday in positive territory, bucking the negative trend that beset the Dow and Dax earlier in the week. The Dow began Friday at 28,529.54 and slid to lows of 28,452.91 mid-session. Rallying off those lows, the Dow peaked at 28,856.83 late in the day. It has since come off those highs and is now trading at 28,672.30. The Dax opened Friday at 12,744.69 and dipped to lows of 12,697.53 early. From those lows, the German index surged to highs of 12,956.09 late in the day. It is not far from those highs, currently trading at 12,934.00.

The week ahead is packed with data, while the US election campaign could throw up some surprises.

Data published today and the most significant this week includes:

Today – China GDP, Industrial Production, Fixed Asset Investment, Retail Sales, Unemployment Rate and NBS Press Conference, Canadian Wholesale Sales, German Buba Monthly Report, Fed Chair Jerome Powell and ECB President Christine Legarde speak

Tuesday – RBA Monetary Policy Meeting Minutes

Wednesday – UK CPI

Thursday – US Unemployment Claims, BoE Governor Andrew Bailey speaks

Friday – US, UK European, German and French Flash Manufacturing & Services PMIs

 

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