A few pieces of significant information are set for publication today as Donald Trump heads to the US-Mexico border to garner support for his border wall.

The USD turned its fortunes around, strengthening and sending paired currencies down overnight. The EUR/USD opened the day at $1.15413 and climbed in early trading, hitting a high of $1.15692. The pair quickly gave up those highs as it declined for the rest of the session as it fell to a low of $1.14830. It has come off those lows and is currently trading at $1.14985. The GBP/USD weakened overnight but showed more signs of life than the euro. The pair opened the day at $1.27855 and climbed to a high of $1.28005 early in the session. The pound began its slide after that, tumbling to a low of $1.27267 mid-session. The pound showed some signs of life as it rallied up to $1.27797 before succumbing to the weight of a stronger dollar. It is currently trading at $1.27468.

The Dow was once again strong overnight, overcoming early falls to post some healthy gains. The index opened at 23,847.80 and fell throughout early trading, hitting lows of 23,658.12 at the start of mid-session trading. The Dow climbed off those lows, surging to a high of 24,019.80. It has fallen back below 24,000 and is trading at 23,966.20. The Dax was solid overnight, buoyed by a rallying Dow. The German index opened at 10,829.88 and dropped to a low of 10.875.60 shortly after opened. The Dax then rallied for the rest of the session, closing at a high of 10,973.40.

The day ahead features some significant data releases, while the US President seeks funding for his border wall. The US government shutdown is poised to enter record territory, as-far-as duration is concerned. This could start to have flow-on effects for the economy. As government workers go unpaid, that money is not spent within the economy. While it is not expected to make a marked difference to economic figures, the political implications may be more damaging. The length of the shutdown may start to make markets edgy as uncertainty surrounds funding to keep the government functioning.

Figures released today include:

Australia – Retail Sales

Europe – Italian Industrial Production

Japan – Bank Lending, Current Account, Economy Watchers Sentiment

US – CPI & Core CPI, Federal Budget Balance, FOMC Member Richard Clarida speaks

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

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