Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.
There was a spike in volatility last week when the US CPI report ticked down to 8.5% from 9.1%, missing the forecast of 8.7%.
Stock markets in Europe started out on a positive note as there was a bullish session in Asia overnight, but only the DAX is set to close in positive territory.
US President Donald Trump on Wednesday offered proposals for tax adjustments that would be the largest in US history, and told reporters at the White House that they would be something special for Americans. The dollar rose over the course of today's trading, as the dollar index rose from a daily low at 92.79 to reach its highest level since August 23 at 93.40.
After the markets calmed down with North Korea's tensions on financial markets yesterday after a missile launch over Japan and fall in the Pacific Ocean, the economic calendar today was full of a significant number of important economic data that had a significant impact on market movements.
Graeme Wheeler, Reserve Bank of New Zealand Governor, said:
• In the absence of major unexpected shocks, the outlook looks promising for continued strong economic growth in New Zealand over the next two years.
Looking ahead to a new trading week and following the release of very positive US labor market data this past weekend, this week market turns to inflation data, and whether the positive tone of data from the US economy will continue and supports the Fed's path to raise interest rates for the third time this year.
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