Another hectic week ahead for markets
A packed week coming up, culminating in the release of NFP figures on Friday.
The EURUSD opened Friday at $1.17627 and dipped to a low of $1.17622 in the first hour of the day. A steady climb saw the euro peak at $1.18046 late in the day. It has come off those highs and is now trading at $1.17873. The GBPUSD followed a similar path to the euro when it opened at $1.37298. After slipping to an opening-hour low of $1.37248, the pound climbed for most of the day, hitting a late high of $1.38119. It is now trading at $1.37893.
Indices ended the week on positive note, with the Dow and Dax both closing higher. The Dow began the session at 32,698.20 and slipped to a low of 32,631.62 early. It remained steady for most of the day before rising to a high of 33,120.92 late. It is not far off those highs, currently trading at 33,013.00. The Dax followed the Dow’s lead when it opened at 14,701.48. An early low of 14,680.69 was short-lived as the German index regained those losses and remained stable for a large portion of the session. The Dax peaked at 14,861.41 before closing at 14,853.50.
It shapes up as a busy week for markets, with many closing on Friday due to the Good Friday public holiday. The most critical economic figures to be released this week is the NFP employment data from the US on Friday.
Data published today and the most significant this week includes:
Today – UK M4 Money Supply, Mortgage Approvals and Net Lending to Individuals
Tuesday – German Prelim CPI
Wednesday – US ADP Non-Farm Employment Change and CB Consumer Confidence, UK Final GDP, China Manufacturing PMI, Canadian GDP, NZ Final ANZ Business Confidence
Thursday – US Pending Home Sales and Crude Oil Inventories, Australian Retail Sales, OPEC-JMMC Meetings
Friday – US Non-Farm Employment Change, Average Hourly Earnings, Unemployment Rate and ISM Manufacturing PMI, UK, German, Australian, Canadian, Swiss and NZ public holidays
Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.