Another busy day for markets with plenty of data set for release from around the world.

The EUR/USD started the session slowly, but eventually picked up momentum as it peaked at $1.23959 midway through the trading day. It fell away from that point until it hit lows of $1.23459. It has recovered from those lows, currently trading at $1.23691. The GBP/USD followed a similar pattern, indicating that both pairs were being affected by a fluctuating USD. The GBP/USD peaked earlier than the euro, reaching $1.42224. It then dropped to $1.41600, back up to $1.42195 and then fell to session lows of $1.41593. It has bounced back off those lows, currently trading at $1.41841.

The Dow started the session reasonably flat in early trading, the began to fall away until it hit lows of 24,090.14. It rebounded from that point however, rallying to a high of 24,366.17 a matter of hours later. The Dow has wound back some of those gains, trading at 24,251.30. The Dax underperformed overnight, trending into negative territory. It hit a session high of 12,391.10 in the second hour after the open but it was mainly downhill from there. It reached lows of 12,254.10 midway through the session. It closed at 12,276.10.

The day ahead provides markets with plenty of market data to digest. The most significant data is the ECB’s Monetary Policy Meeting Accounts. Like the US Fed Reserve’s Meeting Minutes that were published overnight, the ECB’s minutes provide a deeper insight into economic outlook for Europe from the perspective of monetary policy setters. Other data set for publication today includes:

Japan – BoJ Governor Haruhiko Kuroda speaks

Australia – MI Inflation Expectations, Home Loans

Canada – NHPI

NZ – Business NZ Manufacturing Index

US – Unemployment Claims, Natural Gas Storage, Import Prices

UK – BoE Credit Conditions Survey, BoE Governor Mark Carney & MPC Member Ben Broadbent speak

Europe – French Final CPI, European Industrial Production, German Buba President Jens Weidmann speaks

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