A big day coming up for local markets, with plenty of activity emanating from Australia.

The EURUSD opened the week at $1.12219 and climbed throughout early trading, peaking at $1.12492 mid-session. The slide began shortly after however, with the euro falling to $1.12029 late in the day. It is not far off that level at the moment, currently trading at $1.12052. The GBPUSD strengthened overnight, overcoming the constant drama surrounding Brexit. The pair opened at $1.30370 and fell to an opening-hour low of $1.30053. From there, the pound posted solid gains for majority of the session, hitting highs of $1.31486 late in the day. However, it began to fall in the lead up to the close, falling below $1.31. It is currently trading at $1.30694.

The Dow continues its impressive run, piling on a few hundred points after opening 75 points higher than Friday’s close. The index opened at 26,002.27 and dipped to an opening-hour low of 25,995.85. From there however, the only way was up as the Dow peaked at 26,279.97 late in the day. It is not far off those highs and is currently trading at 26,239.50. The Dax continued in its rich vein of form, posting some solid gains of its own. Opening at 11,624.23 (75 points higher than Friday’s close), the German index dipped to early lows of 11,605.11. It climbed off those lows, hitting a high of 11,717.33 as it closed.

A big day for local markets with some significant events coming out of Australia. Tonight sees the release of the annual national budget. This sets out the economic performance for the country for the previous year whilst also outlining economic forecasts and policies for the year (and subsequent years) ahead. This is likely to cause movements in local markets. The RBA is also meeting to discuss interest rate policy. While it is not expected to change rates, the language that the Reserve Bank Governor uses will come into focus.

Other data released today includes:

Australia – Building Approvals

UK – Construction PMI

US – Durable & Core Durable Goods Orders

Europe – Swiss CPI, Spanish Unemployment Change, European PPI

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