Plenty of data set for release once again, but it is to the local Australian market where we turn our attention.

USD-paired currencies continue to get battered by a stronger dollar, but are there signs that we could see a turnaround? The EUR/USD weakened overnight as a stronger dollar as well as a fragile euro sent the pair well into $1.17 territory. The pair steadily climbed to a high of $1.18540 in mid-session trading before tumbling in the next few hours to a low of $1.17617. It has climbed above $1.18, currently trading at $1.18113. The GBP/USD followed a similar pattern to the euro for most of the session, but the pound rallied in early morning trading this morning. The pair climbed to $1.35205, then fell to a low of $1.34545. It recovered some of those losses to trade at around $1.34800. However, in early morning trading, the pound rocketed up to as high as $1.35514, in what is normally a quiet period of the trading session. It is not far off those highs, currently trading at $1.35395.

The Dow looked shaky for most of the session, hitting lows of 24,636.00 from the outset. It climbed to 24,729.86 before falling back down to 24,640.00. That point on, it was sparked into action, rallying to a high of 24,798.40. It has come off those highs but it is still looking quite strong, currently sitting at 24,750.70. The Dax once again finished in positive territory. After dropping to a session low of 12,960.80, it climbed to highs of 13,035.20 just two hours later. It pulled back from those highs slightly to close at 13,013.60.

We look locally today as Australia publishes its crucial Employment Change and Unemployment Rate data. These pieces of data are vital to determine the strength of employment and the jobs market. These figures come into further focus considering the annual budget was released a couple of weeks ago. Other data set for publication today include:

Australia – MI Inflation Gauge

NZ – Annual Budget Release

Japan – National Core CPI

UK – MPC Member Andy Haldane speaks

Europe – Italian Trade Balance

Canada – Foreign Securities Purchases, ADP Non-Farm Employment Change

US – Philly Fed Manufacturing Index, Unemployment Claims, CB Leading Index, Natural Gas Storage

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