Yahoo Finance Economic Data Puts the GBP and the Greenback in the Spotlight, with the ECB also in Focus
Earlier in the Day:
It was a quiet start to the day on the economic calendar this morning. There were no major stats to provide the majors with direction early in the Asian session. Later this morning, however, trade data from China will draw plenty of interest as economies grapple with the Omicron strain.
The Majors
At the time of writing, the Aussie Dollar was down by 0.03% to $0.7281, while the Japanese Yen was up by 0.02% to ¥114.180 against the U.S Dollar. The Kiwi Dollar was up by 0.03% to $0.6863.
The Day Ahead
For the EUR
It’s a relatively busy day ahead on the economic calendar. Eurozone trade data will be in focus later today. Following disappointing numbers from Germany, a marked narrowing of the trade surplus could test support for the EUR.
Finalized inflation figures from France and Spain are also due out. Barring any revisions from prelim figures, however, they should have a muted impact on the EUR.
On the monetary policy front, ECB President Lagarde is due to speak, with the markets looking for views on inflation and monetary policy.
At the time of writing, the EUR was up by 0.02% to $1.1457.
For the Pound
It’s busy day ahead on the economic calendar. Industrial and manufacturing production figures are due out along with GDP numbers for November. Expect the manufacturing production and GDP numbers to be key. Trade data, also due out, should have a muted impact on the Pound.
At the time of writing, the Pound was up by 0.02% to $1.3709.
Across the Pond
It’s another relatively busy day ahead, with December retail sales the key stat of the day. The markets will be looking for any impact of the latest spike in consumer prices on spending. In December, the U.S annual rate of inflation had hit the highest level since 1982.
Other stats include industrial production and consumer sentiment figures. Barring dire numbers, however, these should have a muted impact on the markets.
On Thursday, the U.S Dollar Spot Index fell by 0.07% to 94.853.
For the Loonie
It’s yet another quiet day ahead. There are no material stats from Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment on the day.
At the time of writing, the Loonie was up by 0.04% to C$1.2515 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
