Economic data highlights euro, while COVID-19 will remain a key driver

Early in the day:

The start of the day on the economic calendar was particularly calm this morning. There were no major statistics to provide the majors with early morning direction.

The lack of statistics left markets to respond to Friday’s NFP figures from the United States and the latest COVID-19 news updates.

On the Omicron news front, the continued spread of the new strain and increased infections among those doubly vaccinated will be a concern as winter sets in.

For adults

As of this writing, the Japanese yen was down 0.18% to 113,000 against the US dollar, while the Australian dollar was up 0.19% to $ 0.7014. The Kiwi dollar lost 0.01% to $ 0.6749.

The day to come

For the euro

It’s a relatively busy day on the economic calendar. German factory orders and construction PMI figures are expected to be released early in the European session.

Expect October factory orders to have the biggest influence on the euro.

Outside of the economic calendar, member states’ discussions on the new strain and any other plans to contain the spread would also have an influence.

At the time of this writing, the Euro was down 0.20% to $ 1.1292.

For the pound

It’s a calm day ahead on the economic calendar. Construction PMI figures for November are expected, which should have a moderate impact on the pound.

At the time of this writing, the pound was down 0.03% to $ 1.3232.

Across the pond

It is a particularly calm day ahead. There are no important statistics to consider later today.

The lack of statistics will leave the chatter of Capitol Hill and COVID-19 updates at the center of concern.

At the time of this writing, the Dollar Spot Index was up 0.16% to $ 96.269.

For the loonie

It’s also a particularly quiet day ahead, with no hardware stats to consider.

The lack of statistics will leave the loonie in the hands of crude oil prices and market risk sentiment.

At the time of this writing, the loonie was up 0.12% to C $ 1.2827 against the US dollar.

For an overview of all of today’s economic events, check out our economic calendar.

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