A host of data is slated for release today, with a number of countries publishing important PMI data.

The USD continues to gain in strength, sending paired currencies down overnight. The EURUSD began the day at $1.17637 and nudged up to a high of $1.17726 in the first hour of trade. Mid-session trading saw the euro begin its slide, hitting a low of $1.16911. It is not far from those lows and is currently trading at $1.16952. The GBPUSD opened the day at $1.28072 and was steady early but fell to a near-session low of $1.27106 midway through the day. It rallied off those lows and hit a high of $1.28663 just a few hours later. However, those gains were given up just as quickly and the pound hit a low of $1.27097 late in the piece. It has come off those lows and is now trading at $1.27314.

The Dow finally put an end to the losses sustained over the last few days, churning out a small gain overnight. The index started the day at 27,135.34 and traded in a tight range for most of the day, falling to lows of 26,972.45 heading into late trading. It bounced off those lows and peaked at 27,326.31 just before the close. It is currently at that level. The Dax was basically flat for the whole day, steadying itself after recent falls. The German index opened at 12,657.47 and dipped to lows of 12,551.50 mid-session. The Dax climbed off those lows, hitting a high of 12,698.14 late in the day. It is not far from those highs and is now trading at 12,670.80.

Today sees the publication of a large volume of data, while Fed Chair Jerome Powell continues his testimony. The US is publishing Flash Manufacturing & Services PMI figures later tonight, with both tipped to be expansionary numbers. The Manufacturing & Services PMI figures are touted to come in at 52.5 and 54.5 respectively.

Other data published today includes:

Australia – Retail Sales

NZ – Official Cash Rate, RBNZ Rate Statement

Japan – All Industries Activity

UK – Flash Manufacturing & Services PMIs

US – Crude Oil Inventories, HPI, FOMC Members Loretta Mester and Randal Quarles speak

Europe – European, German and French Flash Manufacturing & Services PMIs, German GfK Consumer Climate, Credit Suisse Economic Expectations

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