Plenty of activity around the world today but it’s the UK where most of our attention turns to.

The EUR/USD opened at $1.15834 and began its slow march down until it reached a low of $1.15357 in mid-session trading. The pair bounced back at that point, rallying to a high of $1.15996 a few hours later. It was unable to hold onto that high as it gave up some of those gains late in the session. It is currently trading at $1.15727. The GBP/USD fared a little better. After opening at $1.31714, the pair slid to lows of $1.31459. It recovered from that point as it enjoyed a steady surge to highs of $1.32168. Those highs were short-lived however, as it gave up a chunk of those gains to be currently trading at $1.31703.

The Dow was once again a mixed bag. It opened at 24,690.62 and got off to a promising start as it posted some strong gains to peak at 24,849.96. It remained near that high for the next few hours before the rot set in. It began to fall around the time of the US market open and gave up all of its previous gains. The Dow fell to lows of 24,622.53 in late trading before bouncing back slightly to its current level of 24,681.40. The Dax remained mainly flat, uninspired by the Dow rally and lower euro. It opened at 12,756.12 and peaked at 12,762.80 during the first hour of trade. It weakened for the majority of the session after that, but there were not any huge losses. The Dax hit lows of 12,665.30 before recovering slightly and closing at 12,702.20.

Attention turns to the BoE interest rate meeting later tonight. While the UK central bank is not expected to lift rates, it will be important to listen to the commentary that supplements their decision. This gives markets an insight into the think of the central bank when it comes to monetary policy and economic outlook for the country. Accompanying the Official Bank Rate is the Asset Purchase Facility decision and the Monetary Policy Summary. Other data set for release today includes:

All – OPEC-JMMC Meetings

Australia – RBA Bulletin

NZ – Visitor Arrivals

UK – BoE Governor Mark Carney speaks, Public Sector Net Borrowing

Canada – ADP Non-Farm Employment Change, Wholesale Sales

US – HPI, CB Leading Index, Natural Gas Storage, Bank Stress Test Results, Philly Fed manufacturing Index, Unemployment Claims

Europe – Swiss Trade Balance and Libor Rate, SNB Monetary Policy Assessment, Financial Stability Report and Press Conference, Eurogroup Meetings, European Consumer Confidence, German Buba President Jens Wiedmann speaks

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