Another big day for markets, with a stack of information being released.

The USD continues to weaken, allowing paired currencies to move up overnight. The EURUSD opened at $1.11349 and slid to lows of $1.11142 mid-session. This was followed by a march up to a high of $1.11955 a few hours later. It came away from those highs late in the session but has started Wednesday strongly and it is now trading at $1.11984. The pound took advantage of the weaker USD after opening at $1.24875. It slipped to a low of $1.24772 early before bouncing back and hitting a high of $1.25760 mid-session. It came away from those highs slightly late in the day but like the euro, the pound has started Wednesday well. It is now trading at $1.26008.

Indices performed well overnight as countries begin to relax coronavirus restrictions. The Dow began the day at 25,485.09 and fell to an early low of 25,318.79. It was not down there for long as the Dow rallied for most of the day, peaking at 25,742.22 late. It has opened Wednesday on a positive note and is currently trading at 25,842.50. The Dax followed the Dow’s lead after opening at 11,896.01. The German index edged down to lows of 11,848.51 before springing back to life, ending the session at a high of 12,081.26. It has opened higher on Wednesday and is now trading at 12,135.13.

A variety of data is being published today, with the focus again on local announcements. Australia will be releasing its quarterly GDP figure on Wednesday morning. It is expected that the economy shrank by 0.4% in the March quarter, which will leave the country teetering on the brink of a recession.

Other data published today includes:

All – G7 Meetings

Australia – Building Approvals

UK – Final Services PMI

China – Caixin Services PMI

Canada – Overnight Rate, BoC Rate Statement, Labour Productivity

US – ADP Non-Farm Employment Change, ISM Non-Manufacturing PMI, Final Services PMI, Factory Orders, Crude Oil Inventories

Europe – European, German and French Final Services PMIs, Italian and Spanish Services PMIs, European and German Unemployment Rate, Italian Monthly Unemployment Rate, European PPI, Swiss GDP

Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.