Europe is where we turn to for the bulk of our data releases today.

The EUR/USD struggled to stay above $1.17 overnight as the dollar found some strength. After opening at $1.17240, the pair climbed to a high of $1.17506. From that point on, it began its slow slide downwards until it reached a low of $1.16828 late in the session. It is not far off those lows, currently trading at $1.16907. The GBP/USD suffered similar fortunes as its European counterpart. After opening at $1.31136, it gained momentum as it reached a high of $1.31573 mid-session. It then began to fall until it hit a low of $1.30809 late in the day. It is not far from that low, trading at $1.30989.

The Dow began the session well, opening at 25,088.29 or around 40 points higher than Friday’s closing price. The Dow peaked at 25,098.70 during the opening hour of trade. It then fell over the early hours to bottom-out at 24,982.12. The Dow remained in a tight after that, ebbing and flowing throughout the session. It has pushed higher in early Tuesday trading, currently at 25,091.20. The Dax remained reasonably flat, although it did close higher. The Dax opened at 12,521.18 and reached an early low of 12,486.20. It rebounded from that point, slowly piling on the value until it peaked at 12,595.10 in the last hour of trade. The Dax closed at 12,576.80.

The day ahead sees our attention turn to Europe. Europe is releasing a stack of PMI data that has the potential to move some markets, particularly euro-paired currencies. These figures give a good indication of the strength of the relevant sectors throughout the economy. The PMI data and the rest of the data being published today is as follows:

Japan – BoJ Core CPI

UK – CBI Industrial Order Expectations

NZ – Trade Balance

US – HPI, Flash Manufacturing & Services PMIs, Richmond Manufacturing Index

Europe – European, German & French Flash Services PMIs, European, German & French Flash Manufacturing PMIs

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.