A host of data set for publication throughout the day, with interest focussing on local events.

The EUR/USD gave up a lot of the gains last week after opening at $1.16725. The pair spiked to a high in the first hour of trade, peaking at $1.16878. From that point however, it began its long slide down until it hit lows of $1.15906 in late trading. It regained some of those losses and is currently trading at $1.16415. The pound followed a similar pattern to the euro. The GBP/USD opened at $1.31765 and climbed to a high of $1.32069. It was not able to hold onto those highs as the dollar strengthened. The pair bottomed-out at $1.30939 before regaining some of those losses. It is currently trading at $1.31414.

The Dow opened at 24,287.18 and lifted to an early high of 24,345.92. It tumbled to a low of 24,046.17 over the next few hours before bouncing back and recovering most of those losses. In early trading, it is sitting at 24,302.50. The Dax opened at 12,199.30, 84 points lower than its closing price on Friday. The early sell off on the Dax saw it drop to lows of 12,128.60 during the first hour of trade. It fought back from that point, steadily climbing to a high of 12,307.60 in the last hour of trade. It closed at 12,293.00.

The day ahead has plenty of data being published, but it’s the RBA’s interest rate meeting where attention turns to. While rates are tipped to stay on hold, markets will look to commentary that supplements the decision for any hints on future monetary policy settings as well as the strength of the economy. Other data set for release today includes:

Australia – Building Approvals, AIG Services Index

Canada – Manufacturing PMI

UK – Construction PMI, FPC Meeting Minutes

US – Factory Orders, IBD/TIPP Economic Optimism

Europe – French Government Budget Balance, Spanish Unemployment Change, European PPI & Retail Sales

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