A big day for markets, with several economic events and high-profile speakers ensuring that traders will be glued to their TVs and computer monitors.

The EUR/USD continues its woes as the dollar strengthens. The pair peaked at $1.19776 early before tumbling over the next several hours. It eventually bottomed-out at $1.18963. It has rebounded off those lows to be currently trading at $1.19225. The pound was more resilient yesterday. The GBP/USD climbed to $1.35643 before falling away until it reached session lows of $1.35141. It rallied shortly after that however, as it climbed to a session high of $1.35745. It has come off those highs since, currently trading at $1.35593.

The Dow remained largely flat during trading yesterday after opening at 24,318.00. In later trading, it had a short spurt upwards as it hit a high of 24,467.44. It did hold onto those gains for very long though, as it dipped to lows of 24,246.00 only a few hours late. It is currently trading at 24,332.80, less than 15 points above yesterday’s open. The Dax put in another solid performance as it continues to be aided by a weakening euro. It opened at 12,872.73, then fell to lows of 12,813.20 in the hour after open. It turned around from that point however and rallied for the next few hours until it reached a high of 12,965.90. It has come off those highs and closed at 12,928.40.

The day ahead is packed full of important economic events, with the Australian Annual Budget release in full focus. This is where the government outlines all of its expenditure and revenues and also provides a list of economic policies that it plans to undertake in the following years. This budget could also outline possible tax cuts and infrastructure spending. National debt as well as a budget deficit/surplus will also be highlighted. Also of great significance today is a speech being delivered by US Fed Chair Jerome Powell, while US President Donald Trump is also expected to speak about the nuclear deal with Iran and the possible scrapping of the current deal. Other data set for release today include:

Australia – Retail Sales

NZ – Inflation Expectations

China – Trade Balance & USD-Denominated Trade Balance

Canada – Housing Starts

UK – Halifax HPI, BRC Retail Sales Monitor

US – NFIB Small Business Index, JOLTS Job Openings, IBD/TIPP Economic Optimism

Europe – German Trade Balance & Industrial Production, Swiss Unemployment Rate, French Bank Holiday

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