The week ahead
A stack of data scheduled for release this week ensures plenty of opportunities for traders.
The EURUSD started Friday at $1.19067 and inched up to a high of $1.19251 early. It remained steady for a few hours before falling away mid-session, hitting lows of $1.18458 late in the day. It has come off those lows and is now trading at $1.18635. The GBPUSD fared worse on Friday when it opened at $1.39164. The pound lifted to an early high of $1.39439 but then retreated for most of the day, hitting a low of $1.37902 in the final hour of the week. It has bounced off those lows and is currently trading at $1.38122.
Indices were belted on Friday, with the Dow and Dax both bearing the brunt of the sell-off. The Dow opened at 33,823.61 and nudged up to a high of 33,882.44 early. It remained steady for several hours, with the sell-off beginning mid-session. There was little reprieve once the momentum began to build, with the Dow closing at a low of 33,198.53. The downward pressure has continued and the index is now trading at 33,119.30. The Dax was hammered on Friday when it opened at 15,720.70. After creeping up to an early high of 15,744.74, it was belted for the rest of the day, bottoming-out at 15,420.19 late and closing at 15,442.63. The bad news has continued for the German index and it is now trading at 15,338.60.
The week ahead sees the publication of a smorgasbord of data from around the world, while the BoE wraps up its latest interest rate meeting.
Data published today and the most significant this week includes:
Today – German Buba Monthly Report, Canadian NHPI, ECB President Christine Legarde speaks
Tuesday – ECB President Christine Legarde speaks
Wednesday – US, UK, European, German and French Flash Manufacturing & Services PMIs, Fed Chair Jerome Powell Testifies
Thursday – BoE Official Bank Rate, Asset Purchase Facility and Monetary Policy Summary, US Final GDP and Unemployment Claims
Friday – US Revised UoM Consumer Sentiment and Core PCE Price Index
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