A Quiet Day on the Economic Calendar Leaves Geopolitics and COVID-19 in Focus
Earlier in the Day:
It was a particularly quiet start to the week on the economic calendar this morning. There were no material stats to provide the Asian majors with direction in the early hours.
The lack of stats left the markets to consider the latest rise in tensions between China and the West and COVID-19.
The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction later today.
The lack of stats will leave the EUR firmly in the hands of COVID-19 news updates from the weekend.
Key for the EUR near-term is a commitment by vaccine producers to deliver the EU with sufficient vaccines to catch up with the likes of the UK and the U.S.
Until then, new COVID-19 cases will likely continue to rise, which would put the economic recovery at further risk.
At the time of writing, the EUR was down by 0.11% to $1.1780.
For the Pound
It’s also a quiet day ahead on the economic calendar. There are no material stats to provide the Pound with direction.
The lack of stats will leave market risk sentiment to influence.
One consideration, however, would be any talk by the EU of banning vaccine exports. This would derail the UK’s vaccination program and ultimately raise concerns over the economic outlook.
At the time of writing, the Pound was down by 0.12% to $1.3772.
Across the Pond
It’s a quiet day ahead on the economic calendar. There are no material stats to consider later in the day.
Geopolitics and chatter from Capitol Hill will be the main area of focus. Any FOMC member commentary will also need monitoring on the day.
At the time of writing, the Dollar Spot Index was up by 0.05% to 92.815.
For the Loonie
It’s yet another quiet on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.21% to C$1.2603 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.