The volume of data picks up today as markets turn to the UK for the most significant data release.

Major currencies once again struggled against the USD. The EUR/USD opened the week at $1.13180 and rose to an early high of $1.13293. After reaching that high, it was all downhill from there. The pair fell for the majority of the session, tumbling to a low of $1.12142 very late in the day. It is not far off that low, currently trading at $1.12192. The GBP/USD tried to show some fight, but eventually succumbed to the pressure placed by the USD. The pair opened at $1.29137 and climbed to an early high of $1.29249 before falling to lows of $1.28260 mid-session. The pound showed some life after that, climbing to $1.29360 in late trading. It ultimately buckled under the weight of a stronger dollar, with the pair giving up those gains to be currently trading at $1.28450.

Indices were belted overnight, with the Dow and Dax no exception. The Dow opened at 25,976.48 and climbed slowly to a high of 26,102.10 early in the day. The index remained flat for a few hours before the decline set in. The Dow began falling during mid-session trading, but the losses accelerated later in the day. Very late trading saw it plummet to a low 25,399.20 before closing at 25,403.10. The Dax started confidently, opening at 11,574.27 and climbing to a high of 11,600.40 shortly afterwards. That was as good as it got as the German index suffered a sharp loss in the same hour, then continues to slide throughout the rest of the session, hitting a final hour low of 11,293.10 before closing at 11,298.90.

The day ahead is a busy one but it is the UK where market interest turns. The UK will be publishing Average Earnings Index data later tonight. This figure denotes wages growth and is always crucial in a growing economy, especially one that is going through such a huge economic upheaval, as Brexit is. Other data published today includes:

Australia – NAB Business Confidence

UK – Unemployment Rate, Claimant Count Change

US – NFIB Small Business Index, Federal Budget Balance, Loan Officer Survey, FOMC Member Lael Brainard speaks

Europe – German Final CPI, French Prelim Private Payrolls, Swiss PPI, European & German ZEW Economic Sentiment

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