A Light Economic Calendar Puts Geopolitics in the Driving SeatA light economic calendar leaves geopolitics and U.S – China trade talks in focus in particular. Expect negative news to weigh heavily on risk sentiment.
Earlier in the Day:
It was a particularly quiet day on the economic calendar through the Asian session this morning.
There were no material stats due out of Asia to provide the majors with the direction in the early part of the day.
A lack of stats left the majors in the hands of market risk sentiment and geopolitical risk.
On the geopolitical risk front, negative sentiment towards the resumption of U.S – China trade talks tested risk sentiment early on
For the Majors
The Day Ahead:
For the EUR
It’s a particularly quiet day ahead on the economic calendar. With no material stats due out of the Eurozone in the day ahead.
A lack of stats will leave the EUR in the hands of Brexit chatter and market risk sentiment throughout the day.
Following softer nonfarm payroll numbers on Friday, JOLT job openings could spook the markets should quit rates slide in August.
At the time of writing, the EUR was up by 0.05% to $1.0962.
For the Pound
It’s also particularly quiet day ahead on the data front, with no material stats due out of the UK to provide the Pound with direction.
The lack of stats will leave Brexit and UK politics to provide direction on the day. Barring particularly good news on the deal front, any upside for the Pound would be limited.
At the time of writing, the Pound was down by 0.03% to $1.2215.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar, August’s JOLTs job opening figures due out of the U.S later today.
Whilst the headline number will influence, following last week’s NFP numbers, expect quit rates to have a greater impact on the day.
A fall in openings, with a steady quit rate, would reflect stable labor market conditions that would support the Greenback.
On the geopolitical front, it’s all about the trade talks with China. Expect updates from Washington and Beijing to drive the Dollar.
The Dollar Spot Index was down by 0.03% to 99.103 at the time of writing.
For the Loonie
It’s a quiet day on the economic calendar. There are no material stats due out later today, leaving the Loonie in the hands of the weekly EIA numbers and sentiment towards the global economy.
The Loonie was up by 0.06% at C$1.3317, against the U.S Dollar, at the time of writing.