Inflation figures are due out of Canada, the Eurozone, and the UK, which will provide direction. Boris may take the limelight, however...
It was another busy day on the Asian economic calendar in the earlier hours of this morning.
The Kiwi Dollar and Japanese Yen were in action in the early part of the day.
In the 3rd quarter, the current account deficit widened from NZ$1.11bn to NZ$6.35bn, quarter-on-quarter. Year-on-year, the deficit widened from NZ$10.23bn to NZ$10.28bn.
The Kiwi Dollar moved from $0.65728 to $0.65735 upon release of the figures. At the time of writing, the Kiwi Dollar down by 0.17% to $0.6565.
Japan’s trade balance fell from a ¥15.7bn surplus to an ¥82.1bn deficit in November. Economists had forecast a deficit of ¥369.0bn.
According to figures released by the Ministry of Finance,
The Japanese Yen moved from ¥109.514 to ¥109.531 upon release of the figures. At the time of writing, Japanese Yen was down by 0.05% to ¥109.53 against the U.S Dollar.
At the time of writing, the Aussie Dollar was down by 0.03% to $0.6849.
It’s a particularly busy day ahead on the economic calendar. Key stats include Germany’s Ifo Business Climate Index figures and sub-indexes numbers for December.
While we can expect the Business Expectations and Current Assessment figures to influence, the Business Climate Index will have the greatest influence.
Later in the day, finalized November inflation figures are also due out of the Eurozone. Barring downward revisions to the core annual rate of inflation, the focus will be on monthly consumer prices.
On the monetary policy front, ECB President Lagarde is schedueled to speak ahead of today’s stats…
At the time of writing, the EUR was down by 0.03% to $1.1147.
It’s a relatively busy day ahead on the economic calendar. Key stats include November inflation figures.
Following negatively skewed stats in the earlier part of the week, inflation figures could force the BoE into action…
Outside of the numbers, expect market sentiment towards Brexit and what lies ahead for Boris Johnson and the Brexiteers to also influence.
At the time of writing, the Pound was down by 0.14% to $1.3112.
It’s a quiet day on the data front, with no material stats due out to provide the Greenback with direction.
The lack of stats will leave geopolitical risk in focus, with the focus now returning to Brexit and the chances of a no-deal departure from the EU.
The Dollar Spot Index rose by 0.21% to 97.222 on Tuesday.
It’s a busier day on the economic calendar. Economic data includes November inflation figures that will have a material impact on the Loonie.
Sentiment towards monetary policy remains mixed. While the BoC has continued to signal a hold, economic data has suggested otherwise of late…
Outside of the stats, also expect influence from crude oil prices on the day, with the weekly EIA inventory numbers due out later in the day.
The Loonie was up by 0.01% to C$1.3159 against the U.S Dollar, at the time of writing.
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.