A quiet day ahead for announcements means markets may be able to consolidate their positions.

The EURUSD finally showed some fight overnight. The pair opened at $1.12142 and dipped to an opening-hour low of $1.12090. From there, there euro climbed steadily in early trading before steeper gains ensued mid-session. The euro peaked at $1.12737 late in the day before coming off those highs in the final hours of the session. It is currently trading at $1.12556. The GBPUSD made some modest gains overnight, despite the Brexit calamity rolling on. The pair opened at $1.30328 and dropped to a low of $1.30192 in the first hour of trade. The pound climbed from there, reaching near-session highs of $1.30710 a few hours later. It remained near those highs for the remainder of the day, hitting a high of $1.30737 late. It is currently trading at $1.30575.

The Dow ended the session in slightly negative territory overnight, consolidating its position after the rallies of last week. The index opened at 26,378.54 and ticked up to an early high of 26,404.60. The slide set in shortly afterwards, with the Dow hitting a low of 26,240.92 late in the day. It rebounded off those lows and is currently trading at 26,315.00. The Dax remained largely flat overnight after opening the week almost 40 points lower than its Friday close. The German index opened at 11,974.53 and climbed to a high of 12,001.73 mid-session. The Dax fell from that high, hitting lows of 11,950.14 late in the day before closing at 11,963.87.

The day ahead is a relatively quiet one for data releases, with the US publishing the most amount of data. Data released today includes:

Australia – Home Loans

Europe – Swiss Unemployment Rate, Italian Retail Sales

US – NFIB Small Business Index, JOLTS Job Openings, FOMC Members Randal Quarles and Richard Clarida speak

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