Focus returns to the US and the release of more crucial economic data.

The USD continues to strengthen, sending paired currencies south overnight. The EURUSD began the day at $1.17445 and nudged up to a high of $1.17571 mid-session. The pair fell from those highs, hitting a low of $1.16876 late in the day. It has come off those lows and is now trading at $1.17057. The GBPUSD gave up most of the gains it made during the previous session after opening at $1.30106. It crept up to a high of $1.30293 early before dropping away mid-session, hitting lows of $1.28893 late. It is not far from those lows and is currently trading at $1.29000.

The Dow started the day at 28,537.90 and edged up to a high of 28,575.11 shortly after the open. The decline began soon afterwards, with the Dow bottoming-out at 28,155.50 mid-session. However, late trading saw the Dow bounce back to life, recovering most of those losses and closing at 28,509.67. It is now sitting at 28,569.30. There was no such fight back from the Dax after it began the day at 12,976.59. The German index peaked at 12,994.22 in the first hour before falling away dramatically, hitting lows of 12,592.26 midway through the day. It managed to regain a small portion of those losses and closed at 12,734.90.

Apart from the Town Hall events that are being held for Donald Trump and Joe Biden tonight, focus shifts to the publication of Retail & Core Retail Sales data from the US. Retail Sales are expected to grow by 0.7%, while Core Retail is tipped to expand by 0.4%.

Other data released today includes:

China – Foreign Direct Investment

Canada – Foreign Securities Purchases, Manufacturing Sales

Europe – European & Italian Trade Balances, European Final CPI & Final Core CPI

US – Prelim UoM Consumer Sentiment & Inflation Expectations, Industrial Production, Capacity Utilisation Rate, Business Inventories, Federal Budget Balance, TIC Long-Term Purchases

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