It's a relatively busy day ahead on the economic calendar. Economic data out of the Eurozone will put the EUR in the spotlight.
It was another relatively busy day on the economic calendar through the Asian session this morning.
Key stats included 3rd quarter employment figures out of New Zealand and October Service sector PMI numbers out of China.
Employment rose by 0.2%, quarter-on-quarter, in the 3rd quarter, following a 0.8% increase in the 2nd quarter. Economists had forecast a 0.3% rise.
The unemployment rate rose from 3.9% to 4.2% in the 3rd quarter, which was worse than a forecast of 4.1%.
According to NZ Stats,
The Kiwi Dollar moved from $0.63791 to $0.63742 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.11% to $0.6368.
The Services PMI fell from a prelim 50.3 to 49.7 in October, according to finalized numbers. In September, the Services PMI had stood at 52.8.
According to the October Survey,
The Japanese Yen moved from ¥109.113 to ¥109.124 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.12% to ¥109.03 against the U.S Dollar.
At the time of writing, the Aussie Dollar was down by 0.07% to $0.6888.
It’s a busy day ahead on the economic calendar. Key stats due out of the Eurozone includes German factory orders, Spanish and Italian service sector PMIs for October and the Eurozone’s finalized service and composite PMI and retail sales figures. Finalized Service PMIs are also due out of France and Germany.
We would expect the Eurozone’s service and composite PMI, factory orders and retail sales figures to have the greatest impact.
At the time of writing, the EUR was down by 0.02% to $1.1073.
It’s a quiet day ahead on the data front. There are no material stats due out of the UK to provide direction for the Pound.
A lack of stats leaves the Pound in the hands of UK politics on the day as the markets look ahead to tomorrow’s BoE policy decision.
At the time of writing, the Pound was down by 0.03% to $1.2880.
It’s a relatively busy day ahead on the economic calendar. Key stats include 3rd quarter nonfarm productivity and unit labor cost figures.
Outside of the numbers, geopolitics will continue to be an influence on the day.
The Dollar Spot Index was down by 0.06% to 97.921 at the time of writing.
It’s a relatively quiet day on the economic calendar. Canada’s Ivey PMI for October is due out later today.
Following a quiet start to the week, we can expect the Loonie to be responsive to today’s stat.
The weekly EIA crude oil inventory numbers will also provide direction later in the day.
The Loonie was up by 0.01% to C$1.3156, against the U.S Dollar, at the time of writing.
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.