A big night ahead for markets as focus once again shifts to the US.

The EUR/USD put in another strong showing overnight as it tries to push back up into $1.17 territory. The pair opened at $1.16544 and fell to lows of $1.16489 a few hours later. It then took off and over the next few hours until it peaked at $1.17198. It gave up some of those gains after it reached its high, falling to as low as $1.16709 before bouncing up again. It is currently trading at $1.16953. The GBP/USD seems to have traded in a tight range if you just looked at it’s opening price and current price, but there were some large swings throughout the session. The pair opened at $1.32238 and remained flat in early trading. It then climbed mid-session to a high of $1.32742. The pair then gave up all of those gains in a single hour and struggled in late trading as it fell to a low of $1.32030. It has climbed off the canvas in early trading, currently at $1.32213.

The Dow endured a wild day yesterday. After opening at 24,228.80, it fell to a low of 24,133.76. The Dow rallied a short time later and eventually hit a high of 24,380.63 but it quickly gave up those gains as it plummeted as far down as 24,174.65. However, it bounced back and shot back up to 24,376.13. It gave up some of those gains, currently trading 24,294.40. The Dax once again performed strongly, holding up in the face of a falling Dow. It opened at 12,319.52 and dropped to a low of 12,306.80 during the first hour of trade. The Dax then rallied to a high of 12,516.50 before giving up some of those gains. The Dax closed at 12,479.60.

The US is where attention is centred, where they will be publishing significant employment-related data. The US is releasing Non-Farm Employment Change, Average Hourly Earnings and Unemployment Rate data. These figures are crucial as the Fed Reserve uses these figures to help determine monetary policy settings for the country. This data has the potential to affect USD-paired currencies as well as the Dow. Other data set for release today includes:

Japan – Leading Indicators

UK – Halifax HPI

US – Natural Gas Storage, Trade Balance

Canada – Employment Change, Trade Balance, Unemployment Rate, Ivey PMI

Europe – German Industrial Production, French Trade Balance, Italian Retail Sales, Swiss Foreign Currency Reserves

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