A big day coming up for markets with a stack of significant data set for publication later tonight.

The EURUSD opened and closed rather flat overnight. The pair opened at $1.12591 and dipped to an early low of $1.12537. The euro bounced off that low, climbing gradually throughout the first half of the day, peaking at $1.12836 mid-session. It has come off those highs and is currently trading at $1.12651. The GBPUSD looked set for a strong session until a sell-off late saw the pound return close to its opening price. The pair opened at $1.30548 and climbed in early trading, hitting highs of $1.31204 mid-session. It gave up those gains over the back half of the session, falling to lows of $1.30291. It has come off those lows and is currently trading at $1.30561.

The Dow was underwhelming overnight, ending the session in negative territory. The index opened at 26,325.92 and ticked up to a high of 26,338.27 early. The Dow traded in a tight range until it dropped in late trading, hitting a low of 26,093.49. It has come off those lows and is currently trading at 26,131.00. The Dax fell overnight, reversing some of the gains it has made over the last couple of weeks. The German index opened at 11,944.11 and looked set for a strong session when it rallied to an early high of 12,002.51. It wasn’t to be however as the Dax sunk to a final-hour low of 11,855.16 before closing at 11,863.51.

The day ahead sees the release of a stack of data, with the US, UK and Europe all publishing important data. This data has the real potential of moving markets due to their significance. The US is publishing CPI & Core CPI data, the UK is releasing GDP and Manufacturing Production figures while the ECB is holding an interest rate meeting.

Other data released today includes:

Japan – Prelim Machine Tool Orders

Australia – Westpac Consumer Sentiment, RBA Assistant Governor Guy Debelle speaks

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

Europe – Monetary Policy Statement, ECB Press Conference, French & Italian Industrial Production

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