Markets eye US data

March 16, 2021

A busy Tuesday coming up with markets looking to the US and the release of important economic figures.

After opening at $1.19426, the EURUSD edged up to an early high of $1.19667. Those highs were short-lived however and the pair slid to lows of $1.19104 late. It is now trading at $1.19252. The GBPUSD started the week at $1.39094 and lifted to a high of $1.39489 early. It remained steady for a few hours before falling to lows of $1.38517 late in the day. It has come off those lows and is now trading at $1.38981.

The Dow began the new trading week at 32,837.22 and traded in a tight range for most of the day, falling to lows of 32,623.81 late. It bounced off those lows, peaking at 32,968.46 just before the close. It is now trading at 32,903.92. The story was different for the Dax as it ended the session in the red. It opened 14,588.95 and ticked up to a high of 14,589.95 in the opening hour of the week. From there, the Dax declined for most of the day as it eventually hit lows of 14,408.91 late. It regained some of those losses in the dying hours of the session, closing at 14,505.50.

Today sees the publication of a stack of data from the US, with Retail & Core Retail Sales figures coming into focus. While Retail Sales are tipped to have grown 0.2% over the previous month, Core Retail Sales are expected to contract by 0.5% over the same period.

Other data published today includes:

NZ – Credit Card Spending

Canada – Foreign Securities Purchases

Australia – HPI, Monetary Policy Meeting Minutes

Japan – Revised Industrial Production, BoJ Governor Haruhiko Kuroda speaks

Europe – French Final CPI, European & German ZEW Economic Sentiments, ECOFIN Meetings

US – Import Prices, Capacity Utilisation Rates, Industrial Production, Business Inventories, NAHB Housing Market Index

 

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