A smorgasbord of data is scheduled for release, while central banks feature heavily.

Mixed fortunes for currencies on Friday, with the euro and pound heading in different directions. The EURUSD opened at $1.18166 and fell to an early low of $1.17858. It remained near $1.18 for a few hours before taking off mid-session, peaking at $1.18642 in the final hour of the week. It has come off those highs and is now trading at $1.18470. The GBPUSD started the day at $1.30754 and was steady early, before climbing to highs of $1.31219 mid-session. Things took a dramatic turn as the pair sunk to lows of $1.30179 just two hours later. It bounced off those lows and is now trading at $1.30521.

Indices were much the same as currencies, with the Dow turning negative, while the Dax ended the week strongly. The Dow began Friday at 28,431.90 and traded in a tight range early, bumping up to a high of 28,494.12 mid-session. Things turned ugly from there as the Dow stripped away all of its gains and turned negative late in the day, hitting lows of 28,147.09. It is not far from those lows, currently trading at 28,210.30. The Dax opened the session at 12,561.85 and slid to lows of 12,503.44 early. Rallying off those lows, the German index hit a high of 12,719.51 late and closed at 12,659.68. It has started Monday lower and is now trading at 12,597.10.

The week ahead features plenty of economic data, while several central banks are holding interest rate meetings. Data published today and the most significant this week includes:

Today – German Ifo Business Climate and German Buba Monthly Report

Tuesday – US Durable & Core Durable Goods Orders, US New Home Sales

Wednesday – Australian CPI and Trimmed Mean CPI

Thursday – US Advance GDP and Unemployment Claims, BoJ Policy Rate, Outlook Report, Monetary Policy Statement and Press Conference, ECB Main Refinancing Rate, Monetary Policy Statement and Press Conference, BoC Overnight Rate, Rate Statement, Monetary Policy Report and Press Conference

Friday – US Pending Home Sales, Personal Spending, Core PCE Price Index, Chicago PMI and revised UoM Consumer Sentiment, China Manufacturing PMI, German Prelim GDP

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