Markets await UK data

February 23, 2021

A busy Tuesday coming up sees the UK release some important economic data.

A weakening USD sent paired currencies higher overnight. The EURUSD began the week at $1.21115 and was flat early before falling to lows of $1.20905 mid-session. The euro the powered its way to a high of $1.21687 just before the close. It is now trading at $1.21637. The GBPUSD followed a similar path after opening the week at $1.40086. Mid-session trading saw the pound fall to lows of $1.39791 before bouncing back and rallying to a late high of $1.40859. It has come off those highs and is now trading at $1.40654.

The Dow began and ended the day rather flat but endured some large movements in between. The index started the week at 31,550.18 and tumbled to lows of 31,249.12 mid-session. It surged late in the day to peak at 31,649.05 before closing at 31,561.98. It is now trading at 31,523.30. The Dax sold off early but showed some resilience late in the day to pare back some of its losses. The German index opened the day at 13,973.86 and lifted to a high of 14,032.37 early. Things turned ugly from there as the Dax dropped to lows of 13,797.00 mid-session. It was able to re-gain some of those losses, eventually closing at 13,917.96, where it is now trading.

The day ahead sees the publication of jobs-related data from the UK. The Claimant Count Change is tipped to show that the UK economy added 13,800 jobs during the previous month.

Other data published today includes:

Canada – BoC Governor Tiff Macklem speaks

Europe – European Final CPI & Final Core CPI, Swiss PPI

UK – Average Earnings Index, Unemployment Rate, CBI Realised Sales

US – CB Consumer Confidence, Richmond Manufacturing Index, HPI, S&P/CS Composite-20 HPI, Fed Chair Jerome Powell testifies


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