After a choppy night on the markets, what will today’s data bring?

USD-paired currencies were sent further down overnight as a stronger dollar dominated the other low energy majors. The EUR/USD reached a high of $1.17891 very early in the session before “giving up” for most of the day. It eventually hit lows of $1.16749. It has showed some semblance of life since, currently trading at $1.17089. The story was the same for the pound, although it showed a bit more spirit than its euro counterpart. The GBP/USD peaked at $1.34419 early before declining over the next several hours to lows of $1.33042. It has bounced off those lows, currently trading at $1.33620.

The Dow started the session flat before falling away to lows of 24,630.50. It remained around those levels for a few hours before rallying to highs of 24,884.39 in late trading. It has come off those highs and it is looking rather uncertain at 24,825.10. The Dax was garbage overnight, despite a falling euro. The Dax reached a high of 13,147.10 in its second hour of trading. In this same hour, it managed to drop as much as 167 points. It fell further over the next few hours to bottom-out at 12,925.70. It recovered some of those losses to close at 13,007.30.

The day ahead brings with it some potentially volatility-inducing data. Top of the list is the UK Retail Sales data. After the CPI miss yesterday, will the UK be reeling after another miss or could it surprise and post a solid beat? GBP-paired currencies and the FTSE-100 might be good to keep an eye on. Other data set for release today includes:

Japan – Tokyo Core CPI

Canada – Corporate Profits

UK – BoE Governor Mark Carney speaks

US – Unemployment Claims, HPI, Existing Home Sales, Natural Gas Storage, FOMC Members William Dudley & Raphael Bostic speak

Europe – ECB Monetary Policy Meeting Accounts, German Final GDP & GfK Consumer Climate, ECB Financial Stability Review, Eurogroup Meetings, Belgian NBB Business Climate

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