The week ahead
A smorgasbord of data is scheduled for release this week, with the US coming into focus.
The EURUSD was reasonably flat on Friday after beginning the day at $1.21588. The pair climbed early before falling away to lows of $1.21510 mid-session. The euro bounced off those lows, hitting highs of $1.21888 an hour later. It came off those highs late in the day and it is now trading at $1.21670. The GBPUSD opened the session at $1.37297 and ticked up to a high of $1.37351 early. Things turned ugly from there as the pound sunk to lows of $1.36351 mid-session. It rebounded off those lows and is now trading at $1.36823.
The Dow gave back the gains it made the previous session after a tumultuous week in the US. The Dow started Friday at 31,166.23 and edged up to a high of 31,193.99 shortly after the open. It went south from there as the Dow fell to lows of 30,893.85 mid-session. It climbed off those lows late in the day and is now trading at 31,041.95. The Dax ended Friday in the red after opening at 13,930.82. The German index lifted to an opening-hour high of 13,939.43 before declining over a large portion of the day, bottoming-out at 13,735.52 mid-session. It climbed off those lows, closing the week at 13,873.25.
The week ahead sees the publication of a swathe of data, with the US once again in focus. The US will be publishing all-important GDP figures, while the FOMC meets to discuss interest rates.
Data published today and the most important this week includes:
Today – German Ifo Business Climate, ECB Christine Legarde speaks
Tuesday – UK Claimant Count Change and Unemployment Rate
Wednesday – US Consumer Confidence, Australian CPI and Trimmed Mean CPI
Thursday – US Federal Funds Rate, FOMC Statement & Press Conference
Friday – US Advance GDP, Advance GDP Price Index and Unemployment Claims
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