Plenty of data set for release today, with the most significant emanating from the UK.

The EUR/USD had a solid night of trading, adding more than a cent from its lows. The pair hit lows of $1.22568 early, but from then on, it was mainly on an upward trajectory. The momentum behind it resulted in a peak of $1.23585. It has come off those highs, currently sitting at $1.23351. The GBP/USD followed a similar pattern, but came off its highs earlier in the session. The pair hit lows of $1.39117 before taking off. It surged to a high of $1.40877 before falling away somewhat, currently trading at $1.40224.

The Dow began the session well, hitting highs of 24,951.82. It dropped slightly then plateaued for a while. It then took a terrible turn when the US market opened, plummeting to session lows of 24,455.28 late in trading. It has rebounded off those lows, although it is showing signs of weakness again. It is currently trading at 24,633.60. The Dax reached session highs of 12,374.80 early in trading, before succumbing under the weight of the Dow, the wet blanket of world markets. The Dax dropped to lows of 12,160.80 before fighting back to end the session at 12,245.80.

Looking at the day ahead and the most significant piece of data to be released today is the UK CPI figure. This denotes inflation within the UK and is a vital component of economic growth. As the UK continues to stumble through Brexit negotiations, economic data such as this comes further into focus as markets look for signs of strength in the UK economy. Other data set for release today includes:

All – G20 Meetings

Australia – Monetary Policy Meeting Minutes, HPI, RBA Assistant Governor Michele Bullock speaks

Canada – Wholesale Sales

NZ – Visitor Arrivals, GDT Price Index

UK – PPI Input & Output, Core CPI, HPI, RPI

Europe – Swiss SECO Economic Forecasts & Trade Balance, German PPI, European & German ZEW Economic Sentiment, European Consumer Confidence

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