Another busy session coming up, with focus turning to the UK.

Currencies were a mixed bag overnight, with the euro making gains and the pound remaining steady. The EURUSD began the day at $1.17676 and dipped to lows of $1.17592 mid-session. It sprang into action, with the pair climbing to highs of $1.18401 late in the day. It is not far from those highs and is currently trading at $1.18289. The GBPUSD opened the day at $1.29400 and remained flat early, edging up to a high of $1.29791 midway through the session. It fell over the next few hours, hitting lows of $$1.29104. However, it bounced back quickly and remained steady for the rest of the session. It is now trading at $1.29549.

The Dow was flat overnight as hopes of a signed stimulus bill took a positive turn. It started the day at 28,312.59 and traded in a tight range for most of the day, peaking at 28,581.66 late. The Dow tumbled form those highs, hitting a low of 28,614.18 and closed at 28,252.26. It is now trading at 28,405.30. The Dax looked uninspiring overnight after opening the day at 12,798.18. The German index edged up to a high of 12,847.50 mid-session before falling away late in the day, reaching a low of 12,713.03 just before the close. It is now trading at 12,769.60.

The day ahead sees attention pivot to the UK and the publication of its latest CPI data. It is expected that inflation grew by 0.4%, up from 0.2% recorded at last reading.

Other data released today includes:

NZ – Credit Card Spending

Canada – CPI, Core, Common, Median and Trimmed CPIs, Retail & Core Retail Sales, NHPI

US – Crude Oil Inventories, Beige Book, FOMC Members Lael Brainard and Loretta Mester speak

UK – Core CPI, RPI, HPI, PPI Input & Output, Public Sector Net Borrowing, MPC Member David Ramsden speaks

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