Another busy week for markets with a plethora of data being published from around the world.

The EUR/USD continues to struggle, weighed down by political instability in Italy and Spain. The pair opened at around $1.16912 then weakened to $1.16644 in early trading. It then began its slow climb up as it peaked at $1.17172. It was not able to hang onto those highs, giving up those gains over the next few hours. The Non-Farm data from the US sent the euro reeling for a short time falling from $1.16778 to lows of $1.16162. The pair managed to settle after the initial shock however and was quite steady for the rest of the session. The EUR/USD is currently trading at $1.16639. The GBP/USD was much more fortunate than its European counterpart. After opening at $1.32897, it fell to lows of $1.32525 in fairly early trading. It was a reversal of fortunes from there as it mainly posted gains from that point on. It showed some strength by rallying to a high of $1.33610. It has come off those highs slightly, currently trading at $1.33518.

The Dow had a strong session on Friday. After opening at 24,434.17, it weakened to lows of 24,420.00 a short time later. The Dow managed to pick itself up as it climbed to session highs of 24,675.48. It has not been able to hold onto those highs, currently trading at 24,595.90. The Dax followed a similar pattern to the Dow. The Dax opened at 12,626.00, which happened to be the low of the session. The Dax posted steady gains at it peaked at 12,795.50. It has come off those highs and it closed at 12,740.90.

The week ahead is packed for of data and other economic events which should ensure some volatility once again. The announcements today and the significant announcements throughout the week include:

Today – Australian Retail Sales, UK Construction PMI, NZ Bank Holiday

Tuesday – RBA Rate Statement, UK Services PMI, US ISM Non-Manufacturing PMI, ECB President Mario Draghi speaks

Wednesday – Australian GDP, Canadian Trade Balance, US Crude Oil Inventories

Thursday – Australian Trade Balance

Friday – Canadian Employment Change & Unemployment Rate, BoC Governor Stephen Poloz speaks

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