Plenty of data set for release this week, which should ensure some volatility.

The euro and pound picked up in value on Friday as the USD showed signs of weakness. The EUR/USD was reasonably flat in early trading, falling to a low of $1.18904. The pair then rallied over the next few hours to reach highs of $1.19679. It has come off those highs slightly, currently trading at $1.19466. The pound followed a similar pattern to the euro, but its rallies and pullbacks were more pronounced. After trading flat early, the GBP/USD dropped to lows of $1.35006. It reversed that drop to climb to a high of $1.35953. It has pulled back from that high, currently trading at $1.35479.

The Dow put in another solid performance on Friday, to round out strong week. The Dow hit lows of 24,701.44 in mid-session trading before taking off. Although there were some hours of flatness and pullbacks, the Dow managed to overcome it all to peak at 24,914.01. It is a touch off those highs in early trading, sitting at 24,904.30. The Dax closed the session somewhat flat on Friday, despite threatening to breakout to the upside. The Dax started strong, rallying to a high of 13,049.30. It then began to fall at that point, bottoming-out at 12,963.50. It closed at 12,987.50 which is not far off those lows.

The week ahead is quite busy with a plethora of data set for release from around the world. The data published today and the more significant economic events occurring this week include:

Today – Japanese PPI & Prelim Machine Tool Orders, US FOMC Member Loretta Mester speaks

Tuesday – Australian Monetary Policy Meeting Minutes, Chinese Industrial Production & Fixed Asset Investment, German Prelim GDP, UK Inflation Report Hearings & Average Earnings Index, US Retail & Core Retail Sales

Wednesday – Australian Wage Price Index, US Building Permits & Crude Oil Inventories, ECB President Mario Draghi and SNB Chairman Thomas Jordan speak

Thursday – NZ Annual Budget Release, Australian Employment Change & Unemployment Rate

Friday – Canadian CPI & Core Retail Sales

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