It's a relatively quiet day on the economic calendar, which will leave Capitol Hill in focus. The hope of further stimulus continues to support the Dollar recovery.
It’s was a relatively quiet start to the day on the economic calendar this morning. The Aussie Dollar was in action in the early part of the day, with economic data from China also in focus.
Retail sales jumped by 7.1% in November versus a forecasted and prelim 7.0%, according to finalized figures. In October retail sales had risen by 1.6%.
According to the ABS,
The Aussie Dollar moved from $0.7722 to $ 0.77180 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.80% to $0.7695.
Inflation figures were in focus this morning.
In December, consumer prices rose by 0.7%, partially reversing a 0.6% slide from November. As a result of the pickup, inflationary pressures returned in December. Year-on-year, consumer prices were up by 0.2%, partially reversing a 0.5% decline from November.
Wholesale deflationary pressures eased at the end of the year. The Producer Price Index fell by 0.4%, following a 1.5% slide in November.
The Aussie Dollar moved from $0.77143 to $0.77100 upon release of the figures.
At the time of writing, the Japanese Yen was up by 0.24% to ¥104.19 against the U.S Dollar, with the Kiwi Dollar down by 0.83% to $0.7182.
It’s a quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction.
The lack of stats will leave COVID-19 news in focus.
On the monetary policy front, ECB President Lagarde is scheduled to speak late in the session. Expect any monetary policy talk to provide direction.
At the time of writing, the EUR was down by 0.37% to $1.2173.
It’s a particularly quiet day ahead on the economic calendar. A lack of stats leaves the Pound in the hands of COVID-19 news.
Progress on vaccinations and the number of new cases will be the main areas of focus.
At the time of writing, the Pound was down by 0.47% to $1.3504.
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the U.S to provide the markets with direction.
The lack of stats will leave the markets to focus on Capitol Hill.
There’s the talk of a Trump impeachment and the markets will also be looking for further details of Biden’s stimulus plans.
At the time of writing, the Dollar Spot Index was up by 0.34% to 90.401.
It’s a quiet day on the economic data front, with no material stats due out to provide the markets with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
From the Bank of Canada, the BoC Business Outlook Survey will draw interest later in the day, however.
At the time of writing, the Loonie was down by 0.39% to C$1.751 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.