A busy day ahead for markets as we round off another shaky week.

The EUR/USD ended the session lower after climbing to highs early. The pair peaked at $1.23832 before beginning to shed value for the rest of the session. It dropped to lows of $123000 and is currently not far off those lows, trading at $1.23051. The GBP/USD experienced more volatility yesterday than the Euro. The pair peaked early at $1.39877, before dropping to lows of $1.39203 shortly afterwards. It then rocketed up to $1.39871, falling to $1.39245, up to $1.39653, down to $1.38262 and now to where it is currently trading at $1.39371.

The Dow took some positive steps forward as it ended the session higher overnight. It began the session at lows of 24,670.46 before piling on the point for most of the session. It hit session highs of 25,054.49 overnight but gave up some of those gains to be currently trading at 24,915.10. The Dax was solid once again, seemingly unperturbed by what is happening in other major markets. It reached session lows of 12,237.75 early. It climbed to and is currently trading at, session highs of 12,382.85.

A look ahead to today and the most significant data set for release is the US Building Permits figure. This figure reflects the annualised number of new residential building permits issued during the previous month. This is important as it reflects strength in the housing sector, therefore, a good indicator of economic growth. Other data set for release today includes:

Japan – Revised Industrial Production

Canada – Foreign Securities Purchases, Manufacturing Sales

Europe – Final & Final Core CPIs

UK – CB Leading Index

China – Foreign Direct Investment

US – Housing Starts, Capacity Utilisation Rate, Industrial Production, Prelim UoM Consumer Sentiment & Inflation Expectations, JOLTS Job Openings

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