There isn’t a large volume of data set for publication today, but there is still potential for market movements.

USD-paired currencies succumbed under the weight of a stronger dollar overnight. The EUR/USD $1.13390 and climbed throughout the first half of the day, reaching a high of $1.13830. Things then went south for the euro as the dollar strengthened. The back half of the day saw the pair slide until it hit lows of $1.13241. It is not far off those lows, currently trading at $1.13276. The GBP/USD followed a similar path as the euro after opening the week at $1.28218. The pound fell to lows of $1.27949 early in the session before rallying to a high of $1.28632 at the start of late-session trading. The pair then declined until it hit near-session-lows of $1.27992. It has come off those lows and is currently trading at $1.28077.

The Dow sprang back to life overnight, shaking off a couple of ordinary weeks. The index opened the week at 24,278.46 and dipped to a low of 24,277.20 shortly after opening. It then climbed for most of the session, peaking at 24,668.80 late in the day. There was some volatility in very late trading as the Dow fell to 24,458.55, climbed to 24,654.41 and then fell into the close, closing at 24,505.80. The Dax, buoyed by a rallying Dow and some clarity around Brexit negotiations, surged overnight. The German index opened at 11,251.60, which around 70 points higher than it closed at on Friday. It was also a low of the session. The Dax rallied for most of the night, hitting highs of 11,391.30. It briefly gave up some of those gains before a very late rally saw it close at 11,380.10.

The day ahead is a relatively quiet one in terms of volume of data, but there is still some significant data being released. Attention turns to the US as it publishes CB Consumer Confidence data. This figure has been running high for quite some time, so it will be interesting to see if this trend continues. The expectation is for a reading of 136.2 points, down from 137.9 at the last reading. Other data set for release includes:

UK – CBI Realised Sales

Japan – SPPI, BoJ Core CPI

NZ – RBNZ Financial Stability Report, RBNZ Governor Adrian Orr speaks

US – HPI, S&P/CS Composite-20 HPI, FOMC Members Raphael Bostic and Richard Clarida speak

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