Economic data puts GBP and euro on top after Thursday’s policy decisions


Early in the day:

It was a quiet start to the day on the economic calendar this morning. The Kiwi dollar was in action early this morning. Later this morning, the BoJ will also be the center of attention, making its final monetary policy decision of the year.

For the Kiwi Dollar

In December, the ANZ Business Confidence Index fell from -16.4 to -23.2. The own activity outlook sub-component fell more modestly from 15.0 to 11.8.

According to the latest ANZ report,

  • At the end of the year, labor shortages and transportation disruptions were flagged as key issues for businesses.

Looking at the subcomponents,

  • Cost expectations fell from 88.7 to 88.2, while price intentions fell from 66.5 to 63.6. Both were still considered extremely high.
  • Inflation expectations continued to rise, rising from 4.24% to 4.42%.
  • Profit expectations continued to decline from -9.7 to -13.1.
  • Export and investment intentions, however, remained relatively stable during the month.
  • Activity compared to the same month a year ago fell from 7.6 to 14.8 due to the easing of restrictions.
  • Employment compared to the same month a year ago was also up, from 11.7 to 15.1.

The Kiwi dollar fell from $ 0.67952 to $ 0.67968 when the figures were released. At the time of this writing, the Kiwi Dollar was down 0.07% to $ 0.6795.

Somewhere else

At the time of this writing, the Japanese Yen was down 0.11% to 113.790 yen against the US dollar, with the Australian dollar down 0.06% to $ 0.7180.

The day to come

For the euro

It’s a relatively busy day on the economic calendar. Wholesale inflation in Germany and corporate sentiment will be the focus at the start of the European session. Later today, finalized November inflation figures for the eurozone will also spark interest.

At the time of this writing, the Euro was down 0.04% to $ 1.1326.

For the pound

It’s a relatively busy day on the economic calendar. Retail sales will be the focus at the start of the day. As consumer prices rise, markets will assess the impact of inflation on consumption.

Outside of the economic calendar, COVID-19 news updates will also need to be monitored.

At the time of this writing, the British Pound was up 0.01% to $ 1.3325.

Across the pond

It is a particularly calm day on the economic calendar. There are no major statistics to attract interest, leaving the chatter of FOMC members to sway.

At the time of this writing, the Dollar Spot Index was down 0.04% to 96.006.

For the loonie

It’s also a particularly calm day ahead on the economic data front. There are no important statistics to provide to give direction to the loonie. 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 down 0.06% to C $ 1.2783 against the US dollar.

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


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