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Economic Data Puts the EUR, the Loonie, and the Greenback in Focus

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·2 min read
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Earlier in the Day:

It was a quieter start to the day on the economic calendar this morning. The Aussie Dollar was in action in the early hours of the day.

For the Aussie Dollar

The NAB Business Confidence Index fell from +18 to -1 in the 3rd quarter.

The Aussie Dollar moved from $0.75245 to $0.75260 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.19% to $0.7530.

Elsewhere

At the time of writing, the Japanese Yen was down by 0.09% to ¥114.410 against the U.S Dollar, with the Kiwi Dollar down by 0.01% to $0.7201.

The Day Ahead

For the EUR

It’s a relatively busy day ahead on the economic calendar. Consumer sentiment figures for Germany will be in focus ahead of the European open. With consumption a key component of the Eurozone economic recovery and inflationary pressures persisting, expect the numbers to influence.

Late in the day, flash Eurozone consumer confidence figures for October will also be key.

At the time of writing, the EUR was up by 0.04% to $1.1656.

For the Pound

It’s a relatively quiet day ahead on the economic calendar, with CBI Industrial Trends Orders for October in focus.

With little else for the markets to consider on the day, expect Pound sensitivity to the numbers.

At the time of writing, the Pound was down by 0.01% to $1.3822.

Across the Pond

It’s a busy day ahead. Philly FED Manufacturing PMI and weekly jobless claims figures are the major stats of the day.

A further fall in jobless claims will be key.

Other stats include existing home sales figures for September that should have a muted impact on the day.

At the time of writing, the U.S Dollar Spot Index was up by 0.03% to 93.583.

For the Loonie

It’s a quieter day ahead for the Loonie, with housing sector data for September in focus.

We don’t expect the numbers to influence, however, leaving the Loonie in the hands of crude oil prices and market risk sentiment.

At the time of writing, the Loonie was up by 0.03% to C$1.2317 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

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