It's a busy day ahead on the economic calendar. Expect service sector PMIs and U.S jobless claims figures to be the key drivers.
It’s was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and Aussie Dollar was in action early on, with economic data from China also in focus.
August’s finalized services PMI came in at 45.0, which was in line with prelim, while down from July’s 45.4.
According to the August survey,
The Japanese Yen moved from ¥106.241 to ¥106.212 upon release of the PMI. At the time of writing, the Japanese Yen was down by 0.06% ¥106.24 against the U.S Dollar
July trade figures were in focus. The trade surplus narrowed from A$8.202bn to A$4.607bn in July. Economists had forecast a narrowing to A$5.400bn.
According to the ABS,
The Aussie Dollar moved from $0.73146 to $0.73173 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.22% to $0.7322.
The Caixin Services PMI slipped from 54.1 to 54.0 in August.
According to the August survey,
The Aussie Dollar moved from $0.73173 to $0.73255 upon release of the figures.
At the time of writing, the Kiwi Dollar was down by 0.04% to $0.6769.
It’s a busy day ahead on the economic calendar. Key stats include the August service sector and composite PMIs for Italy and Spain and Eurozone retail sales figures for July.
The finalized service sector and composite PMIs are also due out of France, Germany, and the Eurozone.
Barring a material deviation from prelims, expect Italy and the Eurozone’s PMIs to have the greatest impact on the day.
At the time of writing, the EUR was down by 0.14% to $1.1839.
It’s a relatively quiet day ahead on the economic calendar. August’s finalized service and composite PMI numbers for August are due out.
Expect any revisions to influence the Pound in the early part of the day.
Away from the economic calendar, any Brexit and monetary policy chatter will also need monitoring.
BoE Gov. Bailey is scheduled to speak later today.
At the time of writing, the Pound was down by 0.07% to $1.3340.
It’s a busy day ahead in a busy week for the U.S Dollar. Key stats include the weekly jobless claims and the market’s preferred ISM Non-Manufacturing PMI numbers.
Finalized Markit service PMI, trade and unit labor costs, and nonfarm productivity numbers are also due out. We would expect these stats to have a muted impact on market risk sentiment and the Dollar, however.
Away from the economic calendar, any chatter from Washington will also need monitoring.
The Dollar Spot Index was down by 0.04% to 92.806 at the time of writing.
It’s a relatively quiet day ahead on the economic data front. July trade figures are due out later today.
After a quiet week on the economic data front, expect some Loonie sensitivity to the numbers.
From elsewhere, PMI numbers from China, the Eurozone, and the U.S will also influence on the day.
At the time of writing, the Loonie was up by 0.22% to C$1.3054 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.