Plenty of data being published today but it is the UK where market attention turns.

The EUR/USD turned around some of the poor performances of late as it briefly re-entered $1.16 territory. The pair opened at $1.15482 and slid to a low of $1.15245 fairly early in the session. It bounced off those lows and rallied until it peaked at $1.16153 late in the session. It has come off those highs and is currently trading at $1.15948. The GBP/USD soared overnight on the back of better-than-expected GDP figures from the UK. The pair opened at $1.29172 and dipped to an early low of $1.28954. Like the euro, the pound bounced off those lows, helped along by the GDP data. The GBP/USD surged to a high of $1.30510 late in the day before retracing slightly and is currently trading at $1.30257.

The Dow looked set for another strong session, before tanking late. The index opened at 25,935.57 and climbed throughout early and mid-session trading, peaking at 26,045.39. Things turned ugly late in the day as the Dow fell to a low of 25,858.35. It is not far from those lows, currently trading at 25,886.35. The Dax was once again strong, shaking off the malaise that has plagued it recently. The index opened at 11,942.49 and fell to a low of 11,927.10 a short time later. From that low however, it rallied to a high of 12,040.20 before falling away slightly and closing at 11,997.60.

The day ahead is a busy one, with attention turning to the UK once again. The UK is publishing Average Earnings Index data, which is a reflection of wage inflation. This figure is important as wage inflation contributes to overall inflation and economic growth. Other data set for release today includes:

Australia – NAB Business Confidence

Canada – Housing Starts

UK – Claimant Count Change, Unemployment Rate

Japan – Tertiary Industry Activity, Prelim Machine Tool Orders

US – Final Wholesale Inventories, JOLTS Job Openings, NFIB Small Business Index

Europe – French Final Private Payrolls, European & German ZEW Economic Sentiment, European Employment Change

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