A Busy Economic Calendar Puts the Loonie and the Pound in Focus

Earlier in the Day:

It’s was a quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action in the early part of the day.

For the Kiwi Dollar

The NZ Business PMI fell from 57.5 to 53.4 in February. In January, the PMI had jumped from 48.7 to 57.5.

The Kiwi Dollar moved from $0.72284 to $0.72266 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.08% to $0.7221.

Elsewhere

At the time of writing, the Aussie Dollar was down by 0.08% to $0.7784, with the Japanese Yen flat at ¥108.51 against the U.S Dollar.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. January industrial production figures for the Eurozone are due out later today.

Finalized inflation figures for Germany and Spain are also due out but are unlikely to have a material impact on the EUR.

At the time of writing, the EUR was down by 0.03% to $1.1983.

For the Pound

It’s a relatively busy day ahead on the economic calendar. Key stats include industrial and manufacturing production figures and 3-month rolling GDP numbers for January.

Trade data is also due out but will likely have a muted impact on the Pound.

At the time of writing, the Pound was down by 0.01% to $1.3990.

Across the Pond

It’s a relatively busy day ahead on the economic calendar. Wholesale inflation and consumer sentiment figures are due out later today.

Expect both sets of numbers to provide the Dollar and the broader markets with direction.

Away from the economic calendar, FOMC member chatter and news from Capitol Hill will also need monitoring.

On Thursday, the Dollar Spot Index slid by 0.44% to 91.420.

For the Loonie

It’s a relatively busy day on the economic calendar. Employment and wholesale sales figures are due out late in the day.

Expect the employment numbers to have the greatest impact.

Ultimately, however, market risk sentiment will remain the key driver.

At the time of writing, the Loonie was up by 0.01% to C$1.2532 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.