Another big day for data as we head into the weekend.

Major USD-paired currencies took a beating overnight as a strengthening dollar put pressure on the euro and pound. The EUR/USD opened the day at $1.14240 and remained largely flat throughout early and mid-session trading, bumping up to a high of $1.14463 as we headed into late session trading. The pair began its fall soon after reaching that high, tumbling over the next few hours to bottom-out at $1.13499. It is not far off that low, currently trading at $1.13641. The GBP/USD followed a similar path to the euro after opening at $1.31247. The pound was rather flat early, rising to a high of $1.31491. The pair began to slide, falling to $1.30861 before trying to rally again, as the pound lifted to $1.31308. Then the momentum turned south as the GBP/USD fell to a low of $1.30434. It is currently trading at $1.30608.

The Dow remained largely unchanged as it took a breather from the big rally it went on the day prior. The index opened at 26,170.90 and traded within a tight range for most of the day, rising to a high of 26,278.57 late. It suffered a setback around the time of the Fed interest rate decision, sliding to a low of 26,079.79 but those lows were short-lived. The Dow is currently trading at 26,199.60. The Dax returned to its form of late, reversing the gains made over the last couple of days. The German index opened at 11,621.16 and climbed to an early high of 11,645.90. It was mostly downhill from there however as the Dax could not take advantage of a solid Dow and a weakening euro. It fell to lows of 11,491.60 late in the day before closing at 11,513.90

The day ahead sees the release of plenty of market data, with attention turning to the UK. The UK are publishing Prelim GDP and Manufacturing Production figures. The most crucial figure will be the GDP number as it reflects overall economic growth. Expectations for this quarterly figure are for the economy to grow by 0.6%, up from 0.4% at the time of the last reading. Manufacturing Production is expected to grow by 0.1%, up from the -0.2% previously. Other data set for release today includes:

China – CPI, PPI

Japan – M2 Money Stock

Europe – French Industrial Production

Australia – RBA Monetary Policy Statement, Home Loans

UK – GDP, Prelim Business Investment, Construction Output, Goods Trade Balance, NIESR GDP Estimate, Industrial Production, Index of Services

US – PPI & Core PPI, Final Wholesale Inventories, Prelim UoM Consumer Sentiment & Inflation Expectations, FOMC Member Randal Quarles speaks

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