It's a quiet day ahead on the economic calendar. A lack of stats will leave the COVID-19, Brexit, and U.S politics in focus.
It’s was a relatively quiet start to the day on the economic calendar this morning. The Aussie Dollar and the Kiwi Dollar were in action in the early part of the day.
The Westpac Consumer Sentiment Index rose by 2.5% to 107.7 in November, falling short of a forecasted 3.8% rise. In October, the Index had jumped by 11.9% to 105.0.
The Aussie Dollar moved from $0.72854 to $0.72822 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.03% to $0.7286.
The RBNZ delivered its November monetary policy decision this morning.
In line with market expectations, the RBNZ held the Official Cash Rate unchanged at 0.25%. While the RBNZ left the cash rate unchanged, the Committee did deliver more monetary policy stimulus.
In summary,
Salient points from the Rate Statement included:
The Kiwi Dollar moved from $0.68222 to $0.68422 upon release of the statement. At the time of writing, the Kiwi Dollar was up by 0.10% to $0.6838 ahead of the RBNZ Press Conference.
At the time of writing, the Japanese Yen was up by 0.22% to ¥105.07 against the U.S Dollar.
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.
The lack of stats will leave the EUR in the hands of COVID-19 news updates and news from Capitol Hill.
At the time of writing, the EUR was up by 0.08% to $1.1824.
It’s a 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 the Pound in the hands of Brexit updates and COVID-19 news.
At the time of writing, the Pound was up down 0.07% to $1.3263.
It’s a quiet day ahead for the U.S Dollar, with no material stats to provide the markets with direction.
The lack of stats will leave any updates on U.S politics and COVID-19 in focus. U.S stimulus talk and Biden’s plans to take on the COVID-19 pandemic will be key areas of focus.
At the time of writing, the Dollar Spot Index was down by 0.04% to 92.716.
It’s a quiet day on the economic data front. There are no material stats to provide the Loonie with direction on the day.
A lack of stats will leave the Loonie in the hands of market risk sentiment and COVID-19 news updates.
On the oil front, OPEC’s monthly report and crude oil inventory numbers will also provide direction.
At the time of writing, the Loonie was up by 0.02% to C$1.3031 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.