Quite a busy Tuesday coming up for markets, with Australia’s central bank coming into focus.

The USD asserted its authority once again, sending paired currencies down overnight. The EURUSD opened the week at $1.13580 and bumped up to a high of $1.13706 early in the session. The slide began shortly afterwards as it eventually hit a low of $1.12799 late in the day. It is not far off that low, currently trading at $1.12859. The GBPUSD followed a similar path after starting the week at $1.26942. The pair nudged up to a high of $1.27049 before the rot set in. The pound fell to lows of $1.26310 late in the day where it stayed for the rest of the session. It is currently trading at $1.26432.

The Dow started the week with a bang, buoyed by a halt in trade tariffs between the US and China. The index opened the week at 26,857.77, over 170 points higher than Friday’s close. The Dow climbed in early trading, peaking at 26,917.93 mid-session. It remained near those highs for a few hours before declining in late trading, bottoming-out at 26,633.33. It is currently trading at 26,687.08. The Dax popped from the open, helped by a much higher Dow. The German index began the week at 12,517.22, over 120 points higher than Friday’s close. The Dax climbed early, peaking at 12,615.15. It came off those highs shortly afterwards and remained flat for most of the session, closing at 12,534.22.

The day ahead shapes up as an important one for local markets, with the RBA set to hold their latest interest rate meeting. The RBA is expected to cut interest rates by 25 basis points later today in what would be another record low for interest rates. This cut comes on the back of a cut of 25 basis points last month as well.

Other data published today includes:

All – OPEC-JMMC Meetings

Canada – Manufacturing PMI

UK – Construction PMI, Nationwide HPI

US – Total Vehicle Sales, FOMC Member John Williams speaks

Europe – German Retail Sales, European PPI, French Government Budget Balance, Spanish Unemployment Change

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