A big end to the week coming up for markets, with data releases and Jackson Hole possibly shaking things up.

The dollar strengthened overnight, sending USD-paired currencies down. The EUR/USD opened at $1.15946 and reached an early high of $1.15990. The pair then declined to $1.15412, plateaued then tried to rally again, climbing to $1.15901 before falling away in later trading. The pair hit lows of $1.15290 very late in the session and is not far off that level, currently trading at $1.15421. The pound followed a similar path to the euro after opening at $1.29085. The GBP/USD reached a high of $1.29180 shortly after opening, then fell in early trading $1.28683, where it remained steady for a few hours. The pair then rallied to $1.29090 but quickly gave up all of those gains as it sunk to lows of $1.28035 very late in the session. It is not far off that level, currently trading at $1.28080.

The Dow was unable to continue the strong performance of late after opening at 25,728.50. The Dow slid to 25,682.17 and traded in a tight range for several hours before rallying to a high of 25,763.43. It then fell off a cliff as it plummeted to a low of 25,605.24 over the next hour. It was able to recover from those lows and is currently trading at 25,659.40. The Dax once again opened and closed near the same level, but endured some swings in between. The German index opened at 12,361.35 and rallied to near-session highs of 12,411.74. Like the Dow, the Dax tumbled to session lows of 12,350.50 in the next hour. It quickly recovered from those lows and quickly spiked to session highs of 12,412.50. As has been the pattern of late, the Dax was unable to hold onto those highs, closing at 12,372.90.

The day ahead sees the release of some important information, but it is the Jackson Hole Symposium that markets will focus on. This is a meeting held in the US where Fed Reserve members meet, along with central bankers from around the world, to talk all things economic and monetary policy. This meeting has caused some volatility in the past and may do so again. The symposium is held over the entire weekend. Another event to watch out for is the political crisis in Australia. It is looking likely that the current PM will be dumped for someone new. This will mean that no PM has served a full term since 2007. Other data set for release today include:

UK – High Street Lending

Europe – German Final GDP, Belgian NBB Business Climate

US – Durable & Core Durable Goods Orders, Fed Chair Jerome Powell speaks

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