Another busy day coming up, with a host of economic figures set for release throughout the day.

The USD weakened overnight, allowing paired currencies to move higher. The EURUSD opened at $1.18659 and slipped to a low of $1.18590 in the first hour of trade. It bounced off those lows as it marched its way to a high of $1.19651 late in the day. It has come off those highs and is now trading at $1.19480. The GBPUSD made strong gains overnight after it opened at $1.31022. The pair dipped to lows of $1.30862 in the first hour but then rallied for the rest of the session, peaking at $1.32491 late. It has edged up higher again and is now trading at $1.32570.

The Dow edged lower overnight as it continued its timid start to the week. The index began the day at 27,841.46 and slid to 27,725.42 mid-session before rebounding to a high of 27,974.27. Those highs were given up quickly as the Dow tumbled to lows of 27,663.71 a matter of hours later. It has come off those lows and is now trading at 27,823.30. The Dax started the day at 12,938.27 and fell to lows of 12,796.65 mid-session. The German index rallied off those lows, hitting highs of 13,053.63. Most of those gains were given up just as quick in late trading, with the Dax eventually closing at 12,859.99. It is now trading at 12,879.70.

The day ahead sees attention turn to the UK and the release of important economic data. The UK will be publishing CPI and Core CPI data, with inflation tipped to rise by 0.6% and core inflation expected to lift by 1.3%.

Other data published today includes:

All – OPEC-JMMC Meetings

Europe – European CPI, Core CPI and Current Account

US – FOMC Meeting Minutes, Crude Oil Inventories

UK – PPI Input & Output, RPI

Canada – Wholesale Sales, CPI, Core, Common, Trimmed and Mean CPIs

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