A stack of data is scheduled for publication today, with Europe being the main focus.

The EURUSD opened at $1.11239 and traded in a tight range early in the day. Mid-session trading saw the euro drop to lows of $1.11053 before rebounding over late trading to peak at $1.11395. It has come off those highs slightly and is now trading at $1.11312. The GBPUSD made some modest gains overnight, re-entering $1.29 territory late in the day. The pair opened at $1.28684 and fell to lows of $1.28402 early in the day before beginning its slow climb up for the rest of the session. The pound hit a high of $1.29215 and is now trading at $1.29107.

The Dow endured a rocky session but was ultimately able to end the day in positive territory. The index began the day at 26,797.69 and was steady early, before slipping sharply to a low of 26,642.99 mid-session. It rallied off those lows to hit a high of 26,907.00 late in the day and closed at 26,850.38. It has opened higher and is now trading at 26,881.96. The Dax surged overnight after starting the day at 12,661.78. The German index dipped to lows of 12,648.02 in the opening hour before rebounding and rallying for most of the day. The Dax powered its way to a high of 12,819.73 mid-session and closed at 122,812.48.

The day ahead is set to be a busy one, with a host of data expected to be published, while the ECB meets later tonight. While interest rates are expected to remain on hold, commentary supplementing the decision will come into focus. With Europe still showing signs of economic weakness in different areas, markets will wait and see if the central bank decides to pull any monetary-policy levers in order to prop up the economy.

Data published today includes:

Japan – Flash Manufacturing PMI

UK – High Street Lending

China – CB Leading Index

US – Durable & Core Durable Orders, Unemployment Claims

Europe – European, German and French Flash Manufacturing & Services PMIs, ECB Monetary Policy Statement & Press Conference, Spanish Unemployment Rate, Belgian NBB Business Climate

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