A busy Tuesday sees a swathe of data set for publication, most notably from the US and the UK.

The euro weakened overnight as the currency displayed signs of vulnerability. The EUR/USD began the session well as it looked like it was heading for a strong showing. The pair peaked at $1.21377 fairly early in the session before struggling to hold above $1.21. It progressively fell over the ensuing hours to eventually hit session lows of $1.20632. It spiked shortly afterwards but were unable to hold onto all of those gains. It is currently trading at $1.20785. The GBP/USD followed a similar pattern but was less dramatic in its movements. The pair reached highs of $1.37907 reasonably early, then fell away until it hit lows of $1.37108. From that point it was able to recover some of those losses. It is currently trading at $1.37665.

The Dow continues to be an enigma. It opened 35 points higher than what it closed at last Friday and it began Monday’s session solidly, adding around 175 points to peak at 24,502.74 mid-late session. It is here where things turned ugly. The Dow plummeted over 350 points in late trading to hit lows of 24,124.60. At this point in early Tuesday trading, the Dow is fighting hard to recover those losses, trading at 24,175.30. The Dax ended its session not far away from its opening price, but still finished in the red. It started well, weakened over the next few hours, recovered to hit a high of 12,626.90 then started to lose those gains until it bottomed-out at 12,557.00. The weaker euro helped insulate it from the Dow sell-off. The Dax closed at 12,569.00

The day ahead is a busy one but markets will be turning their attention to the US & UK. The US will be publishing its ISM Manufacturing PMI while the UK will also release its Manufacturing PMI. Both figures are an important indicator into the state of both manufacturing sectors. The manufacturing sector is vital to their respective economies. Other data set for release today include:

China – Bank holiday

Japan – Monetary Base

Canada – GDP, Manufacturing PMI, BoC Governor Stephen Poloz speaks

NZ – Employment Change, Unemployment Rate, Labour Cost Index, GDT Price Index

Europe – German, French, Italian, Swiss bank holidays

UK – Net Lending to Individuals, M4 Money Supply, Mortgage Approvals

Australia – Cash Rate, RBA Rate Statement, RBA Governor Philip Lowe speaks, Commodity Prices

US – Final Manufacturing PMI, Construction Spending, ISM Manufacturing Prices, Total Vehicle Sales

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