Another data-packed day ahead for markets, but it’s what’s happening away from economic data that is most likely to cause market movements.

The EUR/USD dipped back into $1.15 territory, the pair still unsure which way it wants to go. It has been trading between the high $1.15 and low $1.16 range for the last couple of days at least. It has however, weakened since this time yesterday. It is currently trading at $1.1595. The pound continued its woes overnight, weakening against major currencies. It is struggling to find any strength after the interest rate decision last week. The GBP/USD pair is currently trading at $1.3115.

US stocks all ended the session higher overnight, with the NASDAQ leading the way. It added 21.33 points (+0.32%) to close at 6,789.12. The S&P 500 gained 3.74 points (+0.14%) to end the session at 2,594.38, while the Dow was flat, adding 6.13 points (+0.03%) to close at 23,563.36. Major European stocks ended slightly higher, the FTSE adding 16.61 points (0.22%) to close at 7,529.72, while the DAX gaining a meagre 3.15 points (0.02%) to close at 13,382.42.

Gold continued to gain momentum, breaking back out of the 1270’s to its current price of $1,282.00. That is a gain of $6.20 since this time yesterday.

Turning to today’s events and the most significant event is Donald Trump’s visit to China. Trump is going there as part of his tour of Asia. Top of the agenda will be trade negotiations and North Korea. As the world two largest economies meet, what they discuss is regards to trade is hugely significant. These talks have the ability to move markets, particularly if any agreements are reached. The other data/events coming up today include:

China – CPI, PPI

UK – RICS House Price Balance, NIESR GDP Estimate

Canada – NHPI

Australia – Home Loans

US – Unemployment Claims, Final Wholesale Inventories, Natural Gas Storage

Japan – BoJ Summary of Opinions, Bank Lending, Core Machinery Orders, Current Account, Economy Watchers Sentiment

Europe – Swiss Unemployment Rate, German Trade Balance, ECB Economic Bulletin, EU Economic Forecasts, SNB Chairman Thomas Jordan speaks