Early in the day:
It’s a relatively busy start to the day on the economic calendar this morning. The Japanese yen and the kiwi dollar were in action in the early morning.
For the Japanese yen
Inflation figures for December were the main concern this morning. According to Ministry of Interior and Communication, Japan’s annual core inflation rate remained stable at 0.5% in December. Economists had forecast an annual core inflation rate of 0.6%.
The Japanese yen fell from ¥113.933 to ¥114.013 when the figures were released. At the time of writing, the Japanese yen was up 0.17% at ¥113.920 against the US dollar.
For the kiwi dollar
In December, the business PMI fell from 50.6 to 53.7. The PMI fell from 54.3 to 50.6 in November.
The Kiwi Dollar rose from $0.67557 to $0.67520 when the numbers were released. At the time of writing, the Kiwi Dollar was down 0.13% at $0.6748.
At the time of writing, the Australian dollar was down 0.17% at $0.7214.
The day to come
It’s a calm day ahead on the economic calendar. There are no hard statistics expected from the Eurozone to give direction to the Euro.
On the monetary policy front, ECB President Lagarde is however expected to speak out. Expect any change in stance on inflation to spark interest.
At the time of writing, the Euro was up 0.04% at $1.1316.
For the pound
It’s a busy day ahead on the economic calendar. UK retail sales figures for December will be the focus of concern in the European session. Markets will be looking for numbers to support further BoE action after Wednesday’s December inflation numbers.
At the time of this writing, the pound was down 0.02% at $1.3597.
On the other side of the pond
It’s a particularly quiet day ahead, with no major statistics out of the US to provide direction.
On Thursday, the US Dollar Spot Index rose 0.24% to end the day at 95.735.
For the loon
It’s a busy day ahead, with December retail sales being the key stat for the day. Home price numbers are also expected, but should have a moderate impact on the loonie. With the Bank of Canada in action next week, positive numbers will give the loonie another boost.
At the time of writing, the Loonie was down 0.06% at C$1.2510 against the US Dollar.
For an overview of all of today’s economic events, check out our economic calendar.