Quite a lot of significant information set for publication today. This should ensure some volatility for markets.

The EUR/USD finished the session stronger overnight as the USD showed further signs of weakness. It was reasonably flat in early trading, falling to a session low of $1.23136. From that point on, it added value, only ‘resting’ a couple of times as the pair reached highs of $1.24067. It has retreated from those highs slightly, currently trading at $1.23918. The pound took a big jump upwards midway through the session after being reasonably flat beforehand. Not long after dropping to lows of $1.38737, it peaked at $1.39941 just a few hours later. It has come off those highs, now trading at $1.39650.

The Dow started the session in good spirits, remaining reasonably flay in early-mid trading, peaking at 25,378.17. From that point on however, the Dow got hammered once again. it tumbled as much as 440 points to reach lows of 24,934.20. It has recovered slightly, to be trading at 24,971.70. The Dax began the session well, hitting a high of 12,460.10 early before being dragged down with the Dow. It plummeted around 350 points to lows of 12,116.00. It has come off those lows slightly, trading at 12,154.00.

The day ahead is full of significant information which should ensure some market volatility. This also means there will be opportunities for traders to take advantage of this volatility. The most significant data set for release is the Retail & Core Retail Sales data from the US. ECB President Mario Draghi is also set to speak. As a central bank head, his commentary on economic outlook and monetary policy is always considered as important. Other data set for release today includes:

Australia – Westpac Consumer Sentiment

Japan – Core Machinery Orders, Monetary Policy Meeting Minutes

China – Industrial Production, Fixed Asset Investment, Retail Sales

NZ – GDP

US – PPI & Core PPI, Business Inventories, Crude Oil Inventories

Europe – German Final CPI, European Employment Change & Industrial Production

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