Economic data puts the euro back in the spotlight


Early in the day:

It’s a relatively busy start to the day on the economic calendar this morning. The Japanese yen and the Australian dollar will be in action in the early hours of the morning.

In Japan, industrial production and retail sales numbers will be the focus ahead of private sector credit numbers in Australia.

However, after disappointing private sector PMI data in China, concerns over growth could test support for riskier assets.

At the time of writing, the Japanese yen was down 0.09% at ¥115.360 against the US dollar, while the Australian dollar was up 0.07% at $0.6993. The Kiwi Dollar fell 0.03% to $0.6546.

The day to come

For their

It’s a busy day ahead on the economic calendar. 4and Quarterly GDP figures for the Eurozone and inflation figures for Germany will be the key statistics for the day. Spanish inflation figures are also expected, but should have a moderate impact on the majors.

At the time of writing, the Euro was down 0.06% at $1.1144.

For the pound

It’s yet another particularly quiet day on the economic calendar. There are no hard data expected from the UK to provide direction for the pound. The lack of data will leave market sentiment towards BoE monetary policy and UK policy to provide direction.

At the time of this writing, the pound was down 0.01% at $1.3400.

On the other side of the pond

It’s a quiet day ahead on the economic data front. The Chicago PMI for January is expected, which should have a moderate impact on the dollar. Markets are now looking for indicators that would force the Fed to adopt a more aggressive policy.

On Friday, the US Dollar Spot Index rose 0.05% to end the day at 97.270.

For the loon

It is also a quiet day ahead. RMPI figures for December are expected. With little else to consider for the markets, expect the numbers to influence. Besides, China’s crude oil statistics and prices will also provide guidance.

At the time of writing, the Loonie was down 0.01% at C$1.2771 against the US Dollar.

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

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