Plenty of significant data set for release today, where our focus turns to the US.

The EUR/USD copped a bit of a hammering overnight as the USD continued to show signs of strength. The pair started the session well, climbing to a high of $1.23360. It fell away after that point, tumbling to lows of $1.22528. It has recovered slightly however, currently trading at $1.22720. The GBP/USD showed more volatility, experiencing larger swings in value. It reached an early high of $1.40880 before falling to a low of $140199. It then shot back up to $1.40718, back down to $1.40310 and then up to $1.40762. It is currently trading at $1.40644.

The Dow staged a big comeback from the losses the day before, erasing most of the 800-point drop. It hit lows of 23,580.95 in early trading before adding value for most of the night, where it peaked at 24,040.00. It has since come off those highs, trading at 23,973.40. The Dax opened 150 points lower after the public holidays, then weakened further until it hit lows of 11,907.90. It ebbed and flowed from that point on. It reached session highs of 12,067.40 during mid-session trading. It is currently trading at 12,054.40.

The day ahead looks quite busy as there is plenty of data set for release from around the world. The most significant data is the US ADP Non-Farm Employment Change figure. This figure gives markets a good insight into the strength of the US jobs market. It is also important to note that there will be bank holidays in China tomorrow and Friday. Other data set for release today includes:

Australia – Retail Sales, Building Approvals

UK – Construction PMI

China – Caixin Services PMI

Europe – Italian Monthly Unemployment Rate, European Unemployment Rate, European CPI & Core CPI Flash Estimate

US – Final Service PMI, ISM Non-Manufacturing PMI, Factory Orders, Crude Oil Inventories, FOMC Member Loretta Mester speaks

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