Germany’s economic data puts the euro in the spotlight


Early in the day:

The start of the economic calendar day was relatively calm this morning. The kiwi dollar was in action early in the morning. Later this morning, the Australian dollar will also be the center of attention, with new private CAPEX numbers for the 3e quarter due.

While the statistics were the center of attention, markets also had time to react to the FOMC minutes released overnight.

For the Kiwi Dollar

In October, New Zealand’s trade deficit narrowed from NZ $ 2,206 million to NZ $ 1.286 million month-on-month. The annual trade deficit, however, widened from NZ $ 4,110 million to NZ $ 4,920 million.

According to New Zealand statistics,

Monthly values ​​for October 2021:

  • Merchandise exports rose 12% to NZ $ 5.3 billion.
    • Exports of powdered milk, butter and cheese increased by 18%, and those of meat and edible offal by 25%.
    • However, exports of aircraft and parts fell by 90%.
  • However, merchandise imports rose 26% to NZ $ 6.6 billion.
    • Imports of machinery and mechanical equipment jumped 43%.
    • Imports of vehicles, parts and accessories jumped 38%.
  • Imports of crude oil and other petroleum products (46%), fertilizers (78%) and pharmaceuticals (85%).

Exports to China increased by 20% and by 12% to the United States. While they increased 30% to Japan and 11% to the EU, exports to Australia fell 6.5%.

The Kiwi dollar fell from $ 0.68729 to $ 0.68723 when the figures were released. At the time of this writing, the Kiwi Dollar was down 0.01% to $ 0.6874.

Somewhere else

At the time of this writing, the Japanese Yen was up 0.02% to 115.410 against the US Dollar, while the Australian Dollar was stable at $ 0.7196.

The day to come

For the euro

It’s a relatively busy day on the economic calendar. 3e The quarter’s GDP figures for Germany will be the center of attention with German consumer confidence figures for December.

While both sets of numbers will generate interest, any negative impact of increasing COVID-19 cases on consumer sentiment will likely be critical.

At the time of this writing, the Euro was up 0.04% to $ 1.1203.

For the pound

It is a particularly calm day on the economic calendar. There are no significant statistics outside of the UK to give direction to the pound.

The lack of statistics will leave the pound in the hands of central bank chatter and COVID-19 news.

At the time of this writing, the pound was stable at $ 1.3328.

Across the pond

It’s a particularly busy day on the economic calendar, with US markets closing for Thanksgiving.

On Wednesday, the US dollar spot index rose 0.34% to end the day at 96.82.

For the loonie

It’s also a particularly calm day ahead, with no major statistics to consider.

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

At the time of this writing, the loonie was up 0.04% to C $ 1.2663 against the US dollar.

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


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