Attention turns to the UK and the release of important employment data.

The EURUSD began the week at $1.17908 and remained steady in early trading, nudging up to a high of $1.18005 mid-session. The slide began shortly afterwards, with the euro hitting a low of $1.17357 late in the day. It has dipped further and is now trading at $1.17280. The GBPUSD opened the week at $1.30528 and edged up to $1.30859 before falling to lows of $1.30175 mid-session. Bouncing off those lows, the pound rallied to a high of $1.31031 heading into late trading. It has come away from those highs and is now trading at $1.30735.

The made some solid gains to start the week after opening at 27,436.85. The index dipped to lows of 27,350.32 in the opening hour but rebounded quickly, erasing those losses in a matter of a few hours. The gains continued for the rest of the day with the Dow peaking at 27,810.09. It is now trading at 27,828.30. The Dax started the week at 12,687.07 and raced to an early high of 12,774.02. Those highs were quickly given up as the German index fell to lows of 12,596.21 just a few hours later. It spent the back end of the day clawing back those losses and eventually closed at 12,755.63. It has started Tuesday well and is now trading at 12,783.70.

The day ahead sees the release of important employment-related data from the UK. The most significant figure being released is the Claimant Count Change. Analysts are forecasting that a further 9,700 people have claimed unemployment benefits over the previous month.

Other data published today includes:

Canada – Housing Starts

Japan – Economy Watchers Sentiment

Europe – European & German ZEW Economic Sentiments

UK – Average Earnings Index, Unemployment Rate, CB Leading Index

US – NFIB Small Business Index, PPI & Core PPI, Mortgage Delinquencies

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