Attention turns to the US and the publication of crucial economic data.

The EURUSD opened and closed rather flat overnight, despite climbing above $1.22. The pair started the session at $1.21723 and dipped to a low of $1.21704 early. Momentum began to build shortly afterwards and accelerated mid-session as the euro peaked at $1.22177. However, that high was met with a rapid reversal as the euro fell to $1.21733 just a few hours later, before closing at $1.21783. It is now trading at $1.21703. The GBPUSD looked strong early before falling away mid-session and ending the day lower. The pair opened at $1.41512 and climbed to highs of $1.41886 mid-session. It tumbled off those highs soon after, with the pound hitting lows of $1.41092 late. It is not far from that point, currently trading at $1.41145.

Indices ended the day lower, with the Dow and Dax giving up some of the gains made earlier in the week. The Dow began the day at 34,615.54 and was steady throughout the first half of the day, nudging up to a high 34,677.75 late. The dying hours of the session saw the index fall to lows of 34,458.98. It has come off those lows and is now trading at 34,509.30.  The Dax started the day at 15,659.86 and ticked up to a high of 15,677.81 in the first hour of trade. The slide began early and sped up mid-session as it hit lows of 15,500.01, before closing at 15,574.30. It is currently trading at 15.584.20.

The day ahead sees the US publish CPI and Core CPI figures. Inflation is tipped to rise by 0.4%, while Core inflation is expected to grow by 0.5%. Meanwhile, the ECB wraps up its latest interest rate meeting.

Other data published today includes:

Canada – Governing Council Member Timothy Lane speaks

UK – RICS House Price Balance, MPC Member Andy Haldane speaks

US – Unemployment Claims, Federal Budget Balance, Natural Gas Storage

Europe – ECB Monetary Policy Statement & Press Conference, French Final Private Payrolls, French & Italian Industrial Production

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