A fair amount of data set for release today, with focus once again on the US.

The EUR/USD was belted overnight as major currencies took a hit from a strengthening USD. The pair opened at $1.17416 and began to weaken to $1.16938. It then surged to a session high of $1.17576 during the middle of the session. However, it plummeted not after that high, dropping to a low of $1.16643. It is slowly picking itself up off the canvas, currently trading at $1.16755. The GBP/USD followed a similar path after opening at $1.32704. The pair was fairly steady in early, reaching a high of $1.32850. It then progressively fell away until it hit a low of $1.31998 late in the session. It is not far off those lows, currently trading at $1.32063.

The Dow opened at 24,709.67 and dropped to lows of 24,617.71 shortly afterwards. The Dow tried its hardest to rally, but such rallies were short-lived. It managed to reach a high of 24,811.84 in late trading but fell away soon afterwards. It is currently trading at 24,728.65. The Dax opened at 12,491.87 and peaked at 12,518.80 during the opening hour. It was basically downhill from there, as it was being weighed down by the Dow. The Dax fell to a low of 12,388.55 in late trading but managed to recover slightly, closing at 12,426.30.

The day ahead sees the release of some crucial economic data from the US. Later tonight, the US is releasing CPI & Core CPI data. As the leading indicator of inflation and consumer demand, this has the potential to cause some volatility in markets. Other data set for release today include:

Australia – MI Inflation Expectations

UK – BoE Credit Conditions Survey

Canada – NHPI

NZ – Business NZ Manufacturing Index

US – Unemployment Claims, Natural Gas Storage, Federal Budget Balance

Europe – German & French Final CPI, European Industrial Production, Eurogroup Meetings, ECB Monetary Policy Meeting Accounts

Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.