Markets eye US data

November 16, 2021

Markets turn their attention to the US as investors await the release of some important economic data.

The EURUSD fell to start the week after opening at $1.14448. A high of $1.14637 was attained early before a gradual decline set in mid-session. The losses gathered momentum in late trading, with the pair hitting lows of $1.13554 shortly before the close. It is now trading at $1.13729. The GBPUSD fared better overnight after beginning the week at $1.34096. Mid-session trading saw the pair dip to lows of $1.34020 before bouncing back and hitting a high of $1.34487 late. It has fallen away from those highs and is now trading at $1.34111.

The Dow ended the first session of the trading week slightly lower after opening at 36,150.40. Mid-session trading saw the Dow dip to a near-session low of 36,055.87. It rallied off that point and reached heights of 36,266.65 heading into late trading. Falling from those highs, the Dow dropped to lows of 36,042.96. It is now trading at 36,093.95. The Dax started the week strongly, ending Monday higher. The German index opened at 16,109.76 and fell to lows of 16,074.17 mid-session. Bouncing off those lows, the Dax marched its way to a late high of 16,154.59. It is currently trading at 16,126.20.

The day ahead sees the release of a number of pieces of data with the most significant coming from the US. The US will be publishing Retail & Core Retail Sales data later today. Analysts forecast that Retail Sales are up 1.3%, while Core Retail Sales are tipped to be up 1%.

Other data published today includes:


Australia – RBA Governor Philip Lowe speaks

Japan – Tertiary Industry Activity

Canada – Housing Starts, Governing Council Member Lawrence Schembri speaks

UK – Average Earnings Index, Unemployment Rate and Claimant Count Change

Europe – European Flash GDP & Employment Change, French Final CPI, ECB President Christine Legarde speaks

US – Industrial Production, Import Prices, Capacity Utilisation Rate, Business Inventories, NAHB Housing Market Index, TIC Long-Term Purchases, FOMC Members Thomas Barkin, Raphael Bostic and Mary Daly speak


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