Another week full of data, meaning volatility and opportunity. Most attention will be centred around the US, who has yet to decide what action it will take against Saudi Arabia over the killing of a journalists in Turkey. The US will also be releasing Advance GDP figures.

The euro looked set for another negative session but managed to turn it around in the back half of the day. The EUR/USD opened at $1.14518 and remained flat throughout early trading. The pair then fell to lows of $1.14318 in what looked like a more longer-term shift downwards. However, the euro bounced off the lows and rallied throughout the back half of the day, peaking at $1.15341. It came off those highs and is currently trading at $1.15132. The GBP/USD also made some solid ground, after beginning the session flat. The pair opened at $1.30161 and traded in a tight range for the first several hours of the day, dipping to a low of $1.130101. It then climbed steadily, then shot up to a high of $1.31031 late in the session. It could not hold onto those highs and is currently trading at $1.30672.

The Dow was relatively steady after the sell-off from the day before. The index opened at 25,393.68 and climbed throughout the majority of the session, hitting a high of 25,601.08. However, the Dow dropped in late trading and reached lows of 25,343.91 before bouncing back and closing at 25,434.24. It has opened lower this morning and is currently trading at 25,342.20. The Dax endured an indifferent session after opening at 11,597.45. The German index hit a high 11,621.00 in the opening hour of the session but then declined to lows of 11,495.33 a few hours later. The Dax steadied itself, closing at 11,548.00.

The week ahead is full of significant data releases, with the US Advance GDP figure the most likely to cause market volatility. The European interest rate decision is another vital one to keep an eye on as changes to monetary policy outlook could cause market movements. The data released today and the most significant this week include:

Today – Canadian Wholesale Sales, German Buba Monthly Report, Japanese All Industries Activity, RBA Assistant Governor Guy Debelle speaks

Tuesday – German PPI, UK MPC Member Andy Haldane speaks

Wednesday – BoE Governor Mark Carney speaks, Canadian Overnight Rate, BoC Rate Statement & Monetary Policy Report, BoC Press Conference

Thursday – ECB Main Refinancing Rate & Press Conference, US Core Durable Goods Orders

Friday – US Advance GDP, ECB President Mario Draghi speaks

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