Attention turns to Europe
Another busy day coming up, with focus shifting to Europe.
A weaker USD enabled paired currencies to make small gains overnight. The EURUSD began the day at $1.19170 and slid to lows of $1.18799 mid-session. It bounced off that point, peaking at $1.19524 in the final hour of the session. It has come off those highs and is now trading at $1.19309. The GBPUSD opened at $1.39312 and fell to lows of $1.38584 mid-session. The pound rebounded and climbed to a late high of $1.39629. It is currently trading at $1.39396.
Indices were largely flat overnight, taking a break from their recent rallies. The Dow started the day at 33,926.07 and traded in a tight range for most of the day, dipping to lows of 33,757.35 late. It climbed off those lows, hitting a high of 34,057.29 just before the close. It is currently trading at 34,011.30. The Dax opened at 15,627.38 and ticked up to a high of 15,658.95 early. It slipped from those highs, hitting lows of 15,512.30 a few hours later. However, it regained those losses late in the day and eventually closed at 15,628.78. It is now trading at the same level.
Europe comes into focus later today with a host of PMI data set for release. Data released today includes:
Canada – Retail & Core Retail Sales
UK – Flash Manufacturing & Services PMIs
Europe – European, German and French Flash Manufacturing & Services PMIs, SNB Quarterly Bulletin, ECB President Christine Legarde speaks
US – Flash Manufacturing & Services PMIs, Crude Oil Inventories, Current Account, New Home Sales, FOMC Members Michelle Bowman and Raphael Bostic speak
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