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Bob Mason
Market Snapshot - Yellen To Testify on Capitol Hill
Market Snapshot – Yellen To Testify on Capitol Hill

Earlier in the Day:

It’s was another 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, with economic data from UK also in focus.

For the Japanese Yen

The current account surplus narrowed from ¥2.145tn to ¥1.878tn in November. Economists had forecast a narrowing to ¥1.551tn.

The Japanese Yen moved from ¥104.162 to ¥104.144 upon release of the figures. At the time of writing, the Japanese Yen was flat at ¥104.26 against the U.S Dollar.

From the UK

In December, the BRC Retail Sales Monitor increased by 4.8%, following a 7.7% jump in November, year-on-year.

The Pound moved from $1.35245 to $1.35174 upon release of the figures. Lockdown measures overshadowed the further rise in retail sales.

Elsewhere

At the time of writing, the Aussie Dollar was down by 0.01% to $0.7696, with the Kiwi Dollar down by 0.03% to $0.7161.

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The Day Ahead:

For the EUR

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

The lack of stats will leave COVID-19 news in focus.

At the time of writing, the EUR was down by 0.07% to $1.2143.

For the Pound

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out later today to provide the Pound with direction.

On the monetary policy front, BoE MPC Member Broadbent is scheduled to speak., however Expect any forward guidance to influence.

Away from the economic calendar, the focus will be on COVID-19 rate of infections and progress towards the vaccination of priority groups.

At the time of writing, the Pound was down by 0.03% to $1.3514.

Across the Pond

It’s a quiet day ahead on the economic calendar. JOLTs job openings for November are due out later today.

While we expect some influence from the numbers, stimulus hopes will likely mute the effect of any disappointing numbers.

Away from the economic calendar. Any stimulus news would be the key driver.

At the time of writing, the Dollar Spot Index was up by 0.14% to 90.589.

For the Loonie

It’s a quiet day on the economic data front, with no material stats due out to provide the markets with direction.

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

At the time of writing, the Loonie was down by 0.02% to C$1.2787 against the U.S Dollar.

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

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