Attention turns to the US and the release of some important economic data.

The USD flexed its muscle overnight, sending paired currencies down. The EURUSD began the day at $1.19301 and lifted to a high of $1.19525 early. It remained near those levels throughout mid-session trading before falling away to a low of $1.18294 late in the day. It is not far off those lows and is now trading at $1.18457. The GBPUSD fared no better after opening at $1.32382. The pair was flat early, edging up to a high of $1.32669 mid-session. The pound collapsed over late trading, hitting lows of $1.30929. It is now trading at $1.31048.

The Dow looked steady for most of the day until a late sell-off meant it ended in the red. The index opened at 27,791.15 and was flat for the first half of the day, nudging up to a high of 27,923.67 mid-session. Late trading saw the Dow fall to lows of 27,644.69. It has fallen further and is now trading at 27,527.30. The Dax bucked the trend, posting solid gains overnight. The German index started the day at 12,859.25 and slipped to lows of 12,827.75 early. It climbed off those lows, peaking at 12,992.01 late before closing at 12,931.50. It has opened Thursday a lot lower and has been dragged down by the Dow. It is now trading at 12,789.70.

Traders will be eyeing off jobs-related data from the US later tonight. The weekly Unemployment Claims figure is slated for release with analysts tipping that a further 930,000 people will be applying for unemployment insurance, down from the 963,000 recorded the week before.

Other data published today includes:

UK – CBI Industrial Order Expectations

Europe – German PPI, Swiss Trade Balance, ECB Monetary Policy Meeting Accounts

US – Philly Fed Manufacturing Index, CB Leading Index, Natural Gas Storage

Canada – ADP Non-Farm Employment Change, Governing Council Member Paul Beaudry speaks

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