It's a quiet day ahead on the economic calendar. A lack of stats will leave COVID-19, Capitol Hill, and Brexit in Focus.
It’s was a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar and Aussie Dollar were in action early on, with the PBoC also in the spotlight.
Away from the economic calendar, the markets also responded to the lack of progress on Capitol Hill.
In the 3rd quarter, the NZIER Business Confidence
According to the NZIER Quarterly Survey of Business Opinion,
The Kiwi Dollar moved from $0.66047 to $0.66027 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.30% to $0.6586.
The RBA monetary policy meeting minutes drew interest early this morning.
Salient points from the minutes included:
Domestically,
The Aussie Dollar moved from $0.70559 to $0.70582 upon release of the minutes. At the time of writing, the Aussie Dollar was down by 0.44% to $0.7043.
The markets are expecting that the PBoC will leave Loan Prime Rates unchanged this morning. Currently, the 1-year LPR sits at 3.85%, with the 5-year at 4.65%.
At the time of writing, the Japanese Yen was down by 0.10% ¥105.54 against the U.S Dollar.
It’s a quiet day ahead on the economic calendar. Wholesale inflation figures for September are due out of Germany.
We don’t expect too much influence on the EUR, however, with COVID-19 numbers and any Brexit chatter in focus.
At the time of writing, the EUR was up by 0.02% to $1.1771.
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.
The lack of stats will leave any further chatter on Brexit and updates on COVID-19 in focus.
While Downing Street announced an end to negotiations, the markets are expecting talks to resume. Boris Johnson left the door open for further talks, though it remains to be seen whether the EU will compromise…
At the time of writing, the Pound was flat at $1.2948.
It’s a relatively quiet day ahead for the U.S Dollar.
September building permits and housing starts are due out later this afternoon.
Barring particularly dire numbers, we would expect the markets to brush aside the numbers.
The focus will be on the U.S Presidential Election polls, the Senate polls, and chatter from Capitol Hill.
Expect updates on COVID-19 to also influence on the day.
At the time of writing, the Dollar Spot Index was down by 0.02% to 93.404.
It’s a particularly quiet day ahead. There are no key stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of COVID-19 and U.S politics on the day. A continued rise in new COVID-19 cases will continue to test support for the Loonie.
At the time of writing, the Loonie was up by 0.02% to C$1.3190 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.