Another day full of data, coupled with markets tumbling overnight should ensure more volatility is coming up.

The EUR/USD weakened once again, keeping the pair below the $1.20 mark. The pair reached a high of $1.20311 in early trading, before heading backwards for the majority of the session. It dropped to $1.19560, then spiked to $1.20250 around the time of the Fed interest rate decision. It quickly gave up those gains in during the next hour or so as it fell to lows of $1.19366. It is struggling to push its way back up, currently trading at $1.19484. The pound was hammered overnight as the USD gathers strength. It was reasonably flat in early trading before climbing to a session-high $1.36654. It could not hold onto those gains, despite spiking around the time of the US interest rate decision. It fell to lows of $1.35534. It is not far off that mark, currently trading at $1.35723.

The Dow closed the session deeply in the red after showing promise early. The Dow spiked at the time of the Fed released its interest rate decision, climbing to a high of 24,186.78 before the sell-off began. Two hours later, the Dow had plummeted to lows of 23,846.36. It is really struggling after the sell-off, currently trading at 23,8868.10 and looking weaker. The Dax was able to weather the storm that occurred across the Atlantic, with the German market opening around 50 points higher after being closed for a bank holiday the day before. Session lows of 12,597.80 were reached in that first hour of trading. It then launched a rally upwards as the euro continued to head south. The Dax climbed to a high of 12,831.45 before coming off those highs slightly, closing the session at 12,776.90.

The day ahead is once again full of data, with the most significant emanating from Europe. Later tonight sees the release of CPI & Core CPI Flash Estimates. As these figures reflect the strength of consumer demand for products/services, this is an important figure that points towards economic growth in an economy. Other data set for release today includes:

NZ – ANZ Commodity Prices

UK – Services PMI

Canada – Trade Balance

Australia – Trade Balance, Building Approvals

Europe – Spanish Unemployment Change, European PPI, SNB Chairman Thomas Jordan speaks

US – Prelim Non-Farm Productivity & Unit Labour Costs, Unemployment Claims, Trade Balance, Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders, Natural Gas Storage, Challenger Job Cuts

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