A host of significant data set for release today should bring with it volatility.

The USD strengthened once again, sending paired currencies down overnight. The EUR/USD opened at $1.14088 and was reasonably flat in early trading. The pair then climbed to highs $1.14291 but gave up those gains quickly as it shed value during the back half of the session. The pair tumbled to lows of $1.13291 late in the session before recovering slightly to its current level of $1.13481. The pound did not fare any better after opening at $1.27557. The pair remained steady in early trading and spiked to a high of $1.28271 when Average Earnings Index data was released. As the figure missed expectations, that high was short-lived. The GBP/USD fell to lows of $1.27035 late in the day but was able to come off those lows, currently trading at $1.27170.

The Dow endured another bumpy session, but was able to add some value after opening at 25,226.91. The Dow climbed during early trading, peaking at 25,339.28 and traded near that level for the next few hours. The index fell sharply to lows of 25,197.45 in later trading but was able to bounce off those lows as it rallied to near-session highs of 25,333.81. It is not far off that at the moment, trading at 25,307.70. The Dax closed not far from its opening price in another flat day of trading. The German index opened at 12,388.92 and hit highs 12,462.80 during the second hour of trade. It was not able to hold onto those highs, declining to a low of 12,292.30. It bounced off those lows and regained much of those losses, closing at 12,416.30.

The day ahead is packed with significant data releases, with the most vital being the CPI figures from the UK and the Retail & Core Retail Sales numbers from the US. Other data set for release today includes:

Europe – French & Italian bank holidays

UK – PPI Input & Output, Core CPI, RPI, HPI

Australia – Wage Price Index, Westpac Consumer Sentiment

US – Empire State Manufacturing Index, Prelim Non-Farm Productivity & Unit Labour Costs, Capacity Utilisation Rat, Industrial Production, Business Inventories, Mortgage Delinquencies, NAHB Housing Market Index, Crude Oil Inventories, TIC Long-Term Purchases

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