Economic Data Puts the EUR and the Dollar in Focus, with the ECB also in Action Today

Bob Mason
2 min read
0
In this article:

Earlier in the Day:

It was a quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider through the Asian session.

For the Majors

At the time of writing, the Japanese Yen was up by 0.06% to ¥108.01 against the U.S Dollar, with the Aussie Dollar up by 0.08% to $0.7760. The Kiwi Dollar was down by 0.03% to $0.7211.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic data front. French business confidence figures are due out ahead of the European open.

Barring a marked slide in confidence, however, we don’t expect too much influence on the EUR.

Late in the day, flash Eurozone consumer confidence figures will draw some attention after the ECB press conference.

On the monetary policy front, the ECB’s policy decision and all-important press conference will be the key drivers later in the day.

While the markets are expecting the ECB to stand pat, any updates on the bond purchasing program and economic outlook will be key.

At the time of writing, the EUR was up by 0.07% to $1.2043.

For the Pound

It’s a relatively quiet day ahead on the economic calendar.

CBI Industrial Trend Order figures for April are due out later today. With little else for the markets to consider, we can expect some sensitivity to the numbers.

The Pound should continue to find support, however, as the UK economy continues to reopen.

At the time of writing, the Pound was up by 0.06% to $1.3940.

Across the Pond

It’s relatively quiet day ahead on the economic calendar. The weekly jobless claims figures are due out along with existing home sales data.

Expect the jobless claims figures to be the key driver on the day. A marked fall in claims could bring into question the FED’s dovish outlook on monetary policy.

At the time of writing, the Dollar Spot Index was down by 0.07% to 91.095.

For the Loonie

It’s a quiet day ahead on the economic calendar. House price figures for March are due out late in the day.

Barring a marked increase, however, the numbers should have a muted impact on the Loonie.

COVID-19 news updates will remain a key area of focus near-term.

At the time of writing, the Loonie was up by 0.03% to C$1.2493 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

Advertisement

Recommended Stories