The week ahead
A smorgasbord of data is scheduled for release this week, providing traders plenty of opportunities on multiple products.
The euro and pound both finished higher on Friday, thanks to a weakening USD. The EURUSD opened at $1.20790 and slipped to a low of$1.20701 early. It was mainly one-way from there as the euro climbed to high of $1.21473 late in the day. It has come off those highs slightly and is now trading at $1.21338. The GBPUSD began the day at $1.40489 and dipped to lows of $1.40347 early. Rallying off those lows, the pound marched its way up to a late high of $1.41106. It has since dipped below $1.41 and is now trading at $1.40886.
Indices ended Friday higher as the Dow and Dax posted modest gains. The Dow opened at 34,044.67 and dipped to a low of 33,997.67 shortly thereafter. Gains were slow and steady throughout the day as the Dow eventually hit a high of 34,459.09 late. It is currently trading at 34,345.30. The Dax started the day at 15,266.52 and edged down to a low of 15,209.07 heading into mid-session trading. Bouncing off those lows, the Dax climbed to a late high of 15,459.19. It is now trading at 15,418.30.
The week ahead is packed with data releases from around the world, culminating in the publication of PMI on Friday.
Data published today and the most significant for the rest of the week includes:
Today – China Retail Sales, Fixed Asset Investment, Industrial Production and Unemployment Rate, Japanese Machine Tool Orders, Swiss PPI, Canadian Housing Starts and Foreign Securities Purchases, US Empire State Manufacturing Index
Tuesday – UK Claimant Count Change, RBA Monetary Policy Meeting Minutes
Wednesday – UK & Canadian CPIs, ECB Financial Stability Review
Thursday – Australian Employment Change and Unemployment Rate, US Crude Oil Inventories, Unemployment Claims, Philly Fed Manufacturing Index and FOMC Meeting Minutes, NZ Annual Budget Release
Friday – US, UK, European, German, French and Australian Flash Manufacturing & Services PMIs, UK, Australian and Canadian Retail Sales, ECB President Christine Legarde speaks
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.