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A Quiet Economic Calendar Leaves Stats from Germany and the EUR in Focus

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Bob Mason
·2 min read
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Earlier in the Day:

It’s was a particularly quiet start to the week on the economic calendar this morning. There were no material stats to provide the majors with direction through the Asian session.

The lack of stats will leave the majors in the hands of chatter from the National People’s Congress that got underway last Friday.

From the weekend, trade data from China set the tone, however.

In February, China’s U.S Dollar trade surplus widened from $78.17bn to $103.25bn. Economists had forecast a narrowing to $60.00bn.

Year-on-year, exports jumped by 60.6%, following an 18.1% increase in January. Economists had forecast a 38.9% surge.

Imports rose by 22.2%, following a 6.5% increase in January. Economists had forecast a 15.0% jump.

For the Majors

At the time of writing, the Aussie Dollar was up by 0.26% to  $0.7706, with the Kiwi Dollar up by 0.21% to $0.7182. The Japanese Yen was down by 0.05% to ¥108.36 against the U.S Dollar.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. German industrial production figures for January are due out later this morning.

Forecasts are EUR positive, though only marginally. A fall in factory orders in December suggests some uncertainty ahead of the release.

While we can expect sensitivity to the numbers, however, recent manufacturing PMIs should limit the impact of any weak numbers.

At the time of writing, the EUR was up by 0.08% to $1.1925.

For the Pound

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.

The lack of stats will leave the Pound in the hands of market risk sentiment on the day.

At the time of writing, the Pound was up by 0.06% to $1.3849.

Across the Pond

It’s also a particularly quiet day ahead on the economic calendar. A lack of stats will leave the Dollar in the hands of FOMC member chatter and news from Capitol Hill.

At the time of writing, the Dollar Spot Index was down by 0.05% to 91.934.

For the Loonie

There are no material stats to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of China trade data from Sunday and chatter from the National People’s Congress.

At the time of writing, the Loonie was up by 0.17% to C$1.2637 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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