Several pieces of economic information is set for release today, with traders awaiting the publication of the RBA minutes.

The USD strengthened overnight as traders flocked to the safe-haven due to the oil situation in Saudi Arabia. The EURUSD started the week at $1.10724 and lifted to an early high of $1.10862. It remained near those levels until mid-session, where it began its fall, hitting lows of $1.09923 in late trading. It is not far off those levels at the moment, currently trading at $1.10030. The GBPUSD followed the same route as the euro after beginning the week at $1.24605. The pound climbed to high of $1.25028 early in the day before reversing all of those gains and sinking to lows of $1.23975 late in the session. It has come off those lows and is now trading at $1.24268.

The Dow opened the week at 27,095.75, much lower than the 27,206.72 it closed at on Friday. The index dropped to lows of 27,004.92 early in the day, before spending a majority of the session regaining those losses, peaking at 27,171.36 late in the session. It has given up some of those gains and is now trading at 27,118.85. The Dax was belted early, opening at 12,401.07 (around 50 points lower than what it closed at on Friday). The German index dropped to lows of 12,324.50 shortly after the open before quickly bouncing back and regaining all of its previous losses. It hit a high of 12,421.49 late in the day and is now trading at 12,391.15.

There isn’t a high volume is data being published today but there is enough activity around the world to keep traders on their toes. The RBA will be releasing the minutes from their latest interest rate meeting early in the trading day. This will give traders a better insight into monetary policy decisions and the economic outlook for Australia through the eyes of the central bank. Away from economic data and the fallout from the drone attack on Saudi Arabia’s oil facilities continues. The oil price continues to sit above $61 as Saudi and US officials try to find out who is responsible, even though a rebel group has already claimed responsibility.

Data published today includes:

Canada – Manufacturing Sales

Australia – Monetary Policy Meeting Minutes, HPI, CB Leading Index

Europe – Swiss SECO Economic Forecasts, European & German Economic Sentiments

US – Capacity Utilisation Rate, Industrial Production, NAHB Housing Market Index, TIC Long-Term Purchases

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