Attention turns to the UK
A host of data is scheduled for publication today, with the UK coming into focus as it releases important economic figures.
The EURUSD ended the session flat overnight after opening at $1.20362. The pair edged up to a high of $1.20799 mid-session before falling away to lows of $1.20213 late. The euro closed at $1.20352, which is where it is currently trading. The GBPUSD gave up some of the gains it made in the previous session when it opened at $1.39826. The pound climbed slowly to a mid-session high of $1.40086. Those highs were given up quickly as the pound fell to lows of $1.39257 late in the day. It is now trading at $1.39390.
Indices had a rough time yesterday, with both the Dow and Dax ending the day lower. The Dow started the day at 34,118.35 and lifted to a high of 34,190.46 early. Mid-session saw the beginning of the sell-off, eventually leading the Dow to a low of 33,694.87 late in the day. It has come off those lows and is now trading at 33,797.30. The Dax followed the Dow’s lead when it opened at 15,402.13. A high of 15,412.63 was hit early before falling away for most of the session, with the German index bottoming-out at 15,116.55 late. It is not far from those lows, currently trading at 15,147.80.
Focus shifts to the UK and the release of inflation data. Inflation is expected to tick up to 0.8%, compared to 0.4% recorded at the last reading, while core inflation is expected to go from 0.9% to 1.1%.
Other data published today includes:
US – Crude Oil Inventories
UK – PPI Input & Output, RPI, HPI, BoE Governor Andrew Bailey and MPC Member David Ramsden speak
Canada – CPI, Core, Common, Trimmed and Median CPIs, BoC Overnight Rate, Rate Statement and Monetary Policy Report
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