Australia eyed

Markets will look locally as some significant data is set for release today.
The EUR/USD showed some signs of life throughout the session, only to come back near to its opening prices yesterday. The pair opened at $1.16899 and remained steady in early trading. It then fell to lows of $1.16533 mid-session before quickly rebounding and rallying to a high of $1.17165. The euro came back off those highs to settle near its opening price, trading at $1.16826. The GBP/USD endured a more prosperous session, rallying for most of the night. The pair opened at $1.30925, remained steady early, then fell to a low of $1.30705. It then bounced off those lows, where it surged to a high of $1.31589. It has come back off those highs, but still remains above $1.31, currently trading at $1.31482.
The Dow put in another solid performance yesterday in the wake of solid earnings beats from some of America’s biggest companies. It opened at 25,045.58 and dipped to a low of 25,042.16 during the opening hour. The Dow then rallied for most of the session and peaked at 25,290.68 before giving up some of those gains. The Dow is currently trading at 25,227.70. The Dax also performed strongly overnight, encouraged by the Dow and a withering euro. The German index opened at 12,610.27 and quickly dipped to a low of 12,581.60. It then surged until it hit highs of 12,755.30. The Dax retraced and fell back to 12,674.90, the price it closed at.
The day ahead contains plenty of data releases from around the world, but it is Australia where markets turn to for data. Australia is publishing CPI and Trimmed Mean CPI data, which is significant for the local economy. In times of low interest rates and low wage growth, the CPI data, reflecting consumer demand and confidence, comes into focus as the government looks for any sort of positive economic data. This data could have an effect on the SPI200 as well as AUD-paired currencies. Other data set for release today includes:
Japan – SPPI
US – New Home Sales, Crude Oil Inventories
UK – High Street Lending, CBI Realised Sales
Europe – Credit Suisse Economic Expectations, European M3 Money Supply, German Ifo Business Climate, European Private Loans, Belgian NBB Business Climate
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