Markets will be looking at the bounty of Chinese data being released in early trade tomorrow as the China's woes continue to weigh down on global equities and commodities. China will be releasing its GDP, industrial production and fixed Asset Investment figures (expected at 6.9%, 6.0% and 10.2% respectively). These figures will be sure to set the pace for the rest of tomorrow, which promises to have traders licking their lips in anticipation of the market moving data expected.
The dollar slumped in Friday trade as a barrage of worse than expect numbers weighed on it. Today sees no fundamental data out of the US as they celebrate Martin Luther King Day. However, low liquidity could see some volatility come into the market especially with several pairs experiencing multiyear lows against the USD.
Crude oil broke below the $30 a barrel mark as global economies continue to weaken demand for it and the onslaught of supply shows no sign of weakening after the sanctions on Iran have been lifted and Iran expected to add a significant supply of crude to the market.