A Quiet Economic Calendar Leaves Brexit, COVID-19, and U.S Politics in Focus
Earlier in the Day:
It’s was a relatively quiet start to the day on the economic calendar this morning. The Japanese Yen was in action in the early part of the day. Later this morning, new loan figures from China will draw interest as the markets continue to eye China’s economic rebound.
For the Japanese Yen
Core machinery orders were in focus in the early hours.
According to the Cabinet Office, core machinery orders rose by 0.2% in August, following a 6.3% jump in July. Economists had forecast a 1% decline. Year-on-year, orders were down by 15.2%, which was better than a forecasted 15.6% slide. In July, orders had been down by 16.2%.
The Japanese Yen moved from ¥105.634 to ¥105.636 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.02% ¥105.60 against the U.S Dollar
The Day Ahead:
For the EUR
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.
A lack of stats will leave the EUR in the hands of geopolitics and market risk sentiment. U.S Presidential Election campaign chatter and Brexit will be the key drivers on the day.
On the monetary policy front, ECB President Lagarde is scheduled to speak. Expect any chatter on policy or the economic outlook to also provide direction.
At the time of writing, the EUR was down by 0.06% to $1.1819.
For the Pound
It’s a particularly quiet day ahead on the economic calendar, with no material stats due out to provide the Pound with direction.
The lack of stats will leave the Pound firmly in the hands of Brexit as the final round of talks kicks off this week.
News from the weekend was certainly not upbeat, as news hit the wires of Johnson and Macron having a fiery call. The French President continues to take a hardline, while other EU member states are eager to compromise.
At the time of writing, the Pound was down by 0.04% to $1.3031.
Across the Pond
It’s also a particularly quiet day ahead for the U.S Dollar. There are no material stats to provide the Dollar with direction.
A lack of stats will leave the focus on COVID-19 stimulus updates and U.S Presidential Election news.
The Dollar Spot Index was up by 0.04% to 93.098 at the time of writing.
For the Loonie
It’s a quiet day ahead, with no material stats to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.06% to C$1.3129 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.