A Quiet Economic Calendar Leaves Central Banks in Focus. First Up, the RBA Meeting Minutes

Earlier in the Day:

It was a quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider.

While there were no major stats, the RBA meeting minutes will draw interest later this morning.

For the Aussie Dollar

Following the reintroduction of lockdown measures, the minutes are unlikely to reveal anything new. Any optimism amongst board members of a swift economic recovery once restrictions are removed should deliver Aussie Dollar support, however.

At the time of writing, the Aussie Dollar was down by 0.01% to $0.7410.

Elsewhere

At the time of writing, the Japanese Yen was up by 0.04% to ¥114.270 against the U.S Dollar. The Kiwi Dollar was up by 0.03% to $0.7088.

The Day Ahead

For the EUR

It’s another particularly quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction.

The lack of stats will leave the EUR in the hands of market risk sentiment on the day.

On the monetary policy front, any central bank commentary will also need monitoring, however.

At the time of writing, the EUR was flat at $1.1610.

For the Pound

It’s also a particularly quiet day ahead on the economic calendar, with no major stats due out of the UK to provide the Pound with direction.

While there are no major stats to consider, BoE Governor Bailey is scheduled to speak later in the day.

Expect any forwards guidance to be key.

At the time of writing, the Pound was up by 0.04% to $1.3731.

Across the Pond

It’s a relatively quiet day ahead. Building permits and housing starts for September are due out later today.

We don’t expect the numbers to influence, however.

FOMC member chatter will likely have a greater impact on the day, however. Members Daly and Bostic are scheduled to speak late in the U.S session.

On Monday, the U.S Dollar Spot Index rose by 0.02% to end the day at 93.953.

For the Loonie

It’s a particularly quiet day ahead for the Loonie, with no major stats due out of Canada.

The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment.

At the time of writing, the Loonie was down by 0.02% to C$1.2382 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.