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A Quiet Economic Calendar Leaves U.S Jobless Claims and the Greenback in Focus

By:
Bob Mason
Published: Sep 2, 2021, 02:36 UTC

With the markets looking ahead to U.S NFP numbers due out tomorrow, jobless claims data will draw plenty of interest later today. ADP numbers have raised question markets over pace of the recovery...

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In this article:

Earlier in the Day:

It was a quieter start to the day on the economic calendar this morning. The Aussie Dollar was back in action this morning.

For the Aussie Dollar

Following GDP numbers on Wednesday, trade data was in focus this morning.

In July, Australia’s trade surplus widened from A$10.496bn to A$12.117bn. Economists had forecast a narrowing to $A$10.200bn.

According to the ABS,

  • Goods and services exports rose by A$2,090m (5%) to A$45,951m.
    • General merchandise credits rose by 7%, while non-monetary gold credits fell by 3%.
  • Imports of goods and services rose by A$1,087m (3%) to A$33,834m.
    • General merchandise debits rose by 5%, supported by a 15% jump in the imports of intermediate and other merchandise goods.
    • Non-monetary gold imports slid by 22%.

The Aussie Dollar moved from $0.73632 to $0.73610 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.04% to $0.7363.

Elsewhere

At the time of writing, the Japanese Yen was up by 0.04% to ¥109.970 against the U.S Dollar, while the Kiwi Dollar was down by 0.08% to $0.7064.

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.

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

At the time of writing, the EUR was flat at $1.18390.

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 Pound will also be in the hands of risk sentiment. Market sentiment towards monetary policy divergence will also influence.

At the time of writing, the Pound was up by 0.03% to $1.3774.

Across the Pond

It’s a quieter day ahead but still an important one. Weekly jobless claims for the week ending 27th August and factory orders for July will be in focus.

Ultimately, however, with the markets looking ahead to Friday’s NFP numbers, the jobless claims will be key.

At the time of writing, the U.S Dollar Spot Index was up by 0.06% to 92.506.

For the Loonie

It’s a relatively quiet day on the economic calendar. Building permits and trade data for July will be in focus.

Expect the trade data to be particularly important as the markets look ahead to next week’s BoC policy decision and forward guidance.

At the time of writing, the Loonie was down by 0.08% to C$1.2630 against the U.S Dollar.

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

About the Author

Bob Masonauthor

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.

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