Plenty of information set for release from around the world which is sure to cause market volatility.

The EUR/USD endured some big swings overnight after opening at $1.16537. The pair rallied until it peaked at $1.16810 during mid-session trading. It then tumbled after reaching that high, falling to a low of $1.16298 a few hours later. It traded in the low $1.16 region for a few more hours before rallying to $1.16742 but falling away again in late trading. It is currently trading at $1.16594. The GBP/USD enjoyed a more fruitful session after opening at $1.31881. The pair climbed steadily buy then fell sharply to hit lows of $1.31698. It did not spend long at those lows as it recovered and continued its march upwards. It peaked at $1.32491 in late trading. It is currently trading at $1.32307.

The Dow traded in a tight range yesterday. It opened at 24,171.64, which happened to be its low of the day. The Dow ebbed and flowed before eventually reaching a high of 24,276.03. It stumbled beyond that point and is currently trading at 24,209.50. The Dax was rather flat as well, opening at $12,317.23. The Dax climbed to a high of 12,350.00 but then reversed those gains as it fell to lows of $12,281.30. It was not at those lows for long as another reversal of fortunes saw it rally into the close. The Dax closed at 12,336.50.

The day ahead is highlighted by the release of the US Fed Reserve Meeting Minutes. The FOMC release these minutes a few weeks after their last interest rate meeting. These minutes are significant as they provide a more in-depth analysis of economic conditions and monetary policy settings. Other data set for release today includes:

Australia – AIG Construction Index

UK – Housing Equity Withdrawal, BoE Governor Mark Carney speaks

Europe – Swiss CPI, European Retail PMI, German Factory Orders, German Buba President Jens Weidmann speaks

US – ADP Non-Farm Employment Change, Challenger Job Cuts, Unemployment Claims, Final Services PMI, ISM Non-Manufacturing PMI, Crude Oil Inventories

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