Quite a busy Tuesday coming up with plenty of data being published.

The EURUSD weakened overnight, thanks to a strengthening USD. The pair opened at $1.14501 and bumped up to an early high of $1.14597. The euro then dipped just below it’s open price then remained flat throughout mid-session trading. The pair then dropped to a low of $1.14234 late, while in early morning trading it is currently sitting at $1.14352. The GBPUSD opened at $1.30598 and lifted slightly in early trading, reaching a near-session high of $1.30955. The pound fell to $1.30400 and then bounced up to highs of $1.31029 late in the day. It hit a low of $1.30279 a short time later and is currently trading at $1.30308.

Indices performed well overnight on the back of strong earnings data out of the US. The Dow opened at 24,990.17, climbed around 80 points and then remained steady during early and mid-session trading. The index then dipped to a low of 24,969.16 before a rally late in the day, peaking at 25,242.56. It closed at 25,215.96. The Dax looked set for another disappointing session until it was dragged up by the Dow late in the day. The German index opened at 11,193.48 and lifted to an early high of 11,209.33. The Dax began its slide after that, falling to a low of 11,094.33. A rally late in the day saw the Dax close at 11,192.83, almost identical to the level it opened at.

Attention turns to Australia as they publish a few pieces of economic data, while the RBA meets today. Australia is publishing Retail Sales and Trade Balance data later in the morning. Expectations for Retail Sales is flat at 0% (down from 0.4% at last reading), while the Trade Balance is expected to be a surplus of 2.25 billion (up from 1.93 billion at last reading). Australia’s central bank also meets later today to discuss interest rates. It is not expected to change rates this afternoon, so interest turns to the language used by the RBA Governor in outlining the future of monetary policy.

Data published today includes:

UK – Services PMI

US – Final Services PMI, ISM Non-Manufacturing PMI, IBD/TIPP Economic Optimism

Europe – European, German and French Final Services PMIs, Italian & Spanish Services PMIs, European Retail Sales

Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.