After the roller coaster ride last night, is today the day markets take a little breather?

The USD continues to assert its authority, sending paired currencies down overnight. The EURUSD began the week at $1.10062 and edged up to a high of $1.10252 mid-session. Those highs did not last lost as a sharp drop over the next hour or so saw the pair hit lows of $1.09654 before spending the rest of the session trying to recover those losses. It has regained a chunk of those earlier losses and is now trading at $1.09904. The GBPUSD opened the week at $1.24604 and lifted to highs of $1.24905 mid-session. The pound fell after that, bottoming-out at $1.24117 heading into late-session trading. It has come off those lows and is now trading at $1.24326.

The Dow endured a rocky start to the after opening at 26,989.89. It bumped up to a high of 27,067.94 in the opening hour before remaining steady early in in the day. Mid-session trading saw the index fall to lows of 26,828.16 in what looked like ominous signs for the Dow. However, it bounced back and regained most of its earlier losses. It has since opened higher and is now trading at 27,097.00. The Dax collapsed last night, on the back of worse-than-expected economic data. The German index opened at 12,439.46 and ticked up to a high of 12,451.62 in the first hour of trade. The slide began shortly afterwards before a sell-off mid-session saw the Dax dive to lows of 12,258.76. It bounced off those lows and closed at 12,356.00. It has opened higher today and is now trading at 12,391.32.

The day ahead sees the publication of a few pieces of data, with the most significant coming from the US. The US will be releasing their CB Consumer Confidence figure later tonight. It is expected to come in at 134.1, down slightly from the 135.1 posted at the last release.

Other data published today includes:

Australia – RBA Governor Philip Lowe speaks

Japan – BoJ Governor Haruhiko Kuroda speaks

UK – Public Sector Net Borrowing, CBI Industrial Order Expectations

Europe – German Ifo Business Climate, Belgian NBB Business Climate

US – HPI, S&P/CS Composite-20 HPI, Richmond Manufacturing Index

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