Busy week ahead for markets

May 30, 2022

There’s a stack of data set for release this week, in what could be a volatile period for markets.

The EURUSD opened Friday at $1.07089 before climbing over the next few hours and peaking at $1.07645. Mid-session trading saw the pair fall to lows of $1.06965 before closing at $1.07309. It has lifted slightly higher in Monday trading and is now sitting at $1.7510. The GBPUSD began the day at $1.25826 and quickly dipped to lows of $1.25580. It then rallied to highs $1.26661 before falling to $1.25848 mid-session, then closing at $1.26252. It is now trading at $1.26481.

Indices finished the week strongly, with both the Dow and Dax ending the day higher. The flagship US index began Friday at 32,568.63 and dipped to an early low of 32,530.08. After a steady few hours, the Dow took off mid-session, hitting highs of 33,303.14 late. It is currently trading at 33,282.30. It was a similar story for the Dax when it opened at 14,242.58. It slipped to lows of 14,215.96 during the first hours of trade before taking off, peaking at 14,195.42 in the dying hours of the week. It has gone higher again and is now trading at 14,526.95.

The week ahead sees a swathe of data being released, with the US Non-Farm Employment figures on Friday being the most significant. Data published today and the most significant this week includes:

Monday – US Bank Holiday

Tuesday – Australian Current Account & Building Approvals

Wednesday – US CB Consumer Confidence, Australian GDP, ECB President Christine Legarde speaks

Thursday – US ADP Non-Farm Employment Change, ISM Manufacturing PMI and JOLTS Job Openings, Canada Overnight Rate, BoC Rate Statement, China, UK and Italian Bank Holidays

Friday – US Non-Farm Employment Change, Average Hourly Earnings, Unemployment Rate and Treasury Currency Report, UK Bank Holiday


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