A Quiet Day Ahead on the Economic Calendar Leaves the U.S Economy and FOMC Chatter in Focus
Earlier in the Day:
It was a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action this morning.
For the Kiwi Dollar
Retail sales figures were in focus early this morning.
In the 1st quarter, retail sales increased by 2.5%, with core retail sales rising by 3.2% quarter-on-quarter. In the 4th quarter of last year, retail sales had fallen by 2.7% and core retail sales by 2.9%.
According to NZ Stats,
- Higher spending on electronic items and outdoor recreational goods supported the boost in spending.
- Electrical and electronic goods sales jumped by 8.4%, with recreation goods sales surging by 16%.
The Kiwi Dollar moved from $0.71732 to $0.71730 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.17% to $0.71735.
The Day Ahead
For the EUR
It’s a particularly quiet day ahead on the economic data front. There are no material stats due out of the Eurozone to provide the EUR with direction. Trading volumes will also be on the lighter side with the German markets closed today.
A lack of stats and lower volumes could leave the EUR on the back foot. Last week, the FOMC meeting minutes delivered policy divergence in favor of the greenback.
At the time of writing, the EUR was down by 0.01% to $1.2181.
For the Pound
It’s also a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
The lack of stats will leave market sentiment towards the economic outlook to provide direction. Following a string of impressive stats, downside for the Pound should, therefore, be limited.
At the time of writing, the Pound was down by 0.06% to $1.4142.
Across the Pond
It’s a quiet day ahead on the calendar. There are no major stats to provide the Dollar and the broader markets with direction later today.
A lack of stats will leave chatter from central bankers and Capitol Hill in focus.
At the time of writing, the Dollar Spot Index was up by 0.03% to 90.040.
For the Loonie
It’s the start of a quiet week on the economic data front. There are no material stats due out of Canada, with the Canadian markets closed at the start of the week.
The lack of stats and lower volumes will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.05% to C$1.2072 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.