It's a busy day ahead on the economic calendar, with the EUR, the Pound, and the Dollar in focus ahead of tomorrow's FOMC monetary policy decision.
It was another quiet start to the day on the economic calendar this morning. The Aussie Dollar was in action this morning.
House price figures and the RBA meeting minutes were in focus this morning.
In the 1st quarter, house prices increased by 5.4% year-on-year, coming up short of a forecasted 5.5% rise. House prices had been up by 3.0% in the 4th quarter of last year.
Salient points from the RBA meeting minutes included:
The Aussie Dollar moved from $0.77111 to $0.77027 upon release of the figures and the minutes. At the time of writing, the Aussie Dollar was down by 0.13% to $0.7702.
Through the early hours, the Japanese Yen was flat ¥110.07 against the U.S Dollar, while the Kiwi Dollar was down by 0.14% to $0.7134.
It’s a busy day ahead on the economic data front. Finalized inflation figures for Germany, France, and Italy are due out along with trade data for the Eurozone.
Barring marked revisions from prelims, however, we would expect the trade data for April to have greater influence.
At the time of writing, the EUR was down by 0.02% to $1.2117.
It’s a busy day ahead on the economic calendar.
Employment figures are due out later this morning. Expect April’s unemployment rate and May’s claimant count to have the greatest impact on the Pound.
Away from the economic calendar, greater certainty over the timing of the UK’s full reopening is going to be needed to support the Pound.
At the time of writing, the Pound was down by 0.07% to $1.4102.
It’s a busy day ahead on the economic calendar. Key stats include retail sales, wholesale inflation, and industrial production figures.
Following the marked pickup in inflationary pressures, expect the retail sales figures to be key.
Other stats due out include inventory figures for April and the NY Empire State Manufacturing Index numbers for June. Barring particularly dire numbers, however, these should have limited impact on the Dollar and broader market risk sentiment.
At the time of writing, the Dollar Spot Index was flat at to 90.520.
It’s a quiet day ahead on the economic data front. Housing sector data is due out later today.
We don’t expect the numbers to have much influence on the Loonie, however, leaving the Loonie in the hands of market risk sentiment.
At the time of writing, the Loonie was down by 0.02% to C$1.2147 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.