Focus once again turns local as Australia releases more significant economic data.

The EURUSD is stuck in a malaise at the moment, struggling to stay above $1.12. The pair opened at $1.12112 and declined through early and mid-session trading, falling to a low of $1.11826 late in the day. The euro experienced a short-term spike, where it shot up to a high of $1.12154. It came off those highs quickly and is currently trading at $1.12038. The GBPUSD looked set for a negative session until a rally late in the day erased the earlier losses. The pair opened at $1.30989 and declined throughout the first half of the day, bottoming-out at $1.30119 heading into late-session trading. From there however, the pound surged to a high of $1.31495. It is not far off those highs and is currently trading at $1.31292.

The Dow took a much-needed breather overnight, as it consolidates its position after a few days of strong gains. The index opened at 26,219.22 and climbed to an early high of 26,271.08 and traded in a tight range for most of the day. Late-session trading saw the Dow fall to lows of 26,118.26. It is currently trading at 26,143.50. The Dax continues to impress, posting more gains overnight. The German index opened at 11,694.89 and dipped to early lows of 11,660.77. The Dax rallied off those lows climbing to a high of 11,815.38 before closing at 11,800.18.

The day ahead is set to be another busy one, with focus once again centred around Australia. Australia will be releasing Retail Sales and Trade Balance data. On the back of the annual budget, it is crucial to the economy that these economic figures remain strong in order for the government’s promises to be fulfilled.

Other data released today includes:

UK – Services PMI

China – Caixin Services PMI

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

US – ADP Non-Farm Employment Change, Final Services PMI, ISM Non-manufacturing PMI, Crude Oil Inventories

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