The week ahead
Plenty of action this week with a stack of data set for release, while central banks also feature.
Investors piled into the USD on Friday, sending paired currencies down as another trading week came to a close. The EURUSD opened at $1.13680 and ticked up to a high of $1.13723 during the first hour of trade. The pair fell from those highs shortly afterwards, hitting lows of $1.12487 heading into late trading. A brief reprieve saw the pair hit $1.13219 before falling away again. It is now trading at $1.12881. Similar trends were seen with the GBPUSD as well. It began the day at $1.34846 and lifted to a high of $1.35090 mid-session. It dropped from that high, hitting lows of $1.34061 a short time later. It bounced off those lows and reached $1.34744 late. It fell away once again and is now trading at $1.34430.
Indices had a torrid time on Friday, with both the Dow and Dax ending the day lower. The Dow opened Friday at 35,904.26 and climbed to highs of 36,058.45 mid-session. Those highs were not sustained for very long as the Dow tumbled to lows of 35,557.56 late in the day. It has come off those lows and is now trading at 35,665.30. The Dax started the day at 16,256.03 and nudged up to highs of 16,302.86 mid-session. Like the Dow, the Dax could not hold onto those gains as it fell to a low of 16,094.41. It is well away for those lows, currently trading at 16,174.50.
The week ahead sees a swathe of data being published, while central banks also weigh in. The highlights of the week will be the publication of Prelim GDP figures from the US, while the Fed Reserve will release its latest interest rate meeting minutes.
Data published today and the most important this week include:
Today – German Buba Monthly Report
Tuesday – German Flash Manufacturing & Services PMIs
Wednesday – US Flash Manufacturing & Services PMIs, NZ Official Cash Rate, RBNZ Rate Statement, Monetary Policy Statement and Press Conference
Thursday – US Prelim GDP, Core PCE Price Index and FOMC Meeting Minutes
Friday – US Treasury Currency Report, BoE Governor Andrew Bailey 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.