A swathe of information around today for markets to digest as we turn our attention to Europe.

The EUR/USD benefitted from a continued weakening on the USD, re-entering $1.16 territory overnight. The pair opened at $1.15690 and remained flat in early trading before dropping to a low of $1.15521. From that point, the pair rallied until it peaked at $1.16226. It gave up some of those gains before rallying again and falling back. It has opened lower this morning, currently trading at $1.15700. The GBP/USD followed a similar path to the euro after opening at $1.28931. The pair remained flat before declining to a low of $1.28671 mid-session. It bounced off those lows and climbed to a high of $1.29355 a few hours later. It fell from those highs and briefly rallied again in late trading. It too has opened lower and is currently trading at $1.28918.

The Dow overcame the pullback from the day before after opening at 25,729.61. The index fell to lows of 25,682.04 in early trading but was able to bounce back from that point. The Dow rallied over the next several hours to a high of 25,842.14 in late trading. It has come off those highs since and has continued that decline in early morning trading, currently sitting at 25,720.00. The Dax performed well overnight and closed before the Dow could start to drag it down. The German index opened at 12,352.27 and declined to lows of 12,332.20 during the opening hour before rallying to a high of 12,440.20 just two hours later. It could not maintain those lofty heights and gave up some of those losses, closing at 12,378.20.

The day ahead sees the publication of a plethora of data, most notably PMI data from Europe and its largest economies. This data reflects the strength of the relevant sectors within their respective economies. These figures may have an effect on the Dax as-well-as EUR-paired currencies. The PMI data and other data set for release today includes:

China – CB Leading Index

UK – CBI Realised Sales

Canada – Corporate Profits

US – Flash Manufacturing & Services PMIs, Unemployment Claims, HPI, New Home Sales, Natural Gas Storage

Europe – European, German and French Flash Manufacturing & Services PMIs, ECB Monetary Policy Meeting Accounts, German Buba President Jens Weidmann speaks

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