Brexit, COVID-19, and Capitol Hill in Focus, with Economic Data on the Lighter Side

Earlier in the Day:

It’s was a relatively busy start to the week on the economic calendar this morning. The Japanese Yen was in action in the early hours.

For the Japanese Yen

Tankan survey figures were in focus ahead of finalized industrial production and tertiary industry activity figures due out later this morning.

• All Big Industry CAPEX Index decreased by 1.2% in the 4^th quarter. In the 3^rd quarter, the CAPEX Index had increased by 1.4%. Economists had forecast a 0.1% decline.
• Big Manufacturing Outlook Index rose from -17 to -8. In the 3^rd quarter, the Index had risen from -27 to -17. Economists had forecast a rise to -11.
• The Large Manufactures Index increased rose from -27 to -10. In the previous quarter, the index had increased from -34 to -27. Economists had forecast a rise to -15.
• Large Non-Manufacturers Index rose from -12 to -5, coming in ahead of a forecasted -6. In the 3^rd quarter, the index had increased from -17 to -12.

The Japanese Yen moved from ¥103.940 to ¥103.942 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.04% to ¥104.20 against the U.S Dollar

Elsewhere

At the time of writing, the Aussie Dollar was up by 0.01% to $0.7534, with the Kiwi Dollar up by 0.06% to $0.7088.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. October industrial production figures for the Eurozone are due out later today.

Barring dire numbers, we don’t expect the figures to have a material impact on the EUR, however.

COVID-19 news and market reaction to the Sunday news on Brexit will influence in the day. Later in the day, the EUR could find support should lawmakers make progress towards a U.S stimulus package.

At the time of writing, the EUR was up by 0.11% to $1.2125, the early upside coming from the decision to extend Brexit talks.

For the Pound

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

That leaves the Pound in the hands of Brexit updates from the weekend and chatter in the day.

At the time of writing, the Pound was up by 0.59% to $1.3302, with the early surge coming from Sunday’s decision to extend talks.

Across the Pond

It’s also a quiet day ahead on the economic calendar. There are no material stats to provide the markets with direction late in the day.

A lack of stats will leave the markets in the hands of stimulus talks and COVID-19 news updates.

At the time of writing, the Dollar Spot Index was down by 0.13% to $90.854.

For the Loonie

It’s a quiet day ahead on the economic data front. There are no material stats due out to provide the Loonie with direction.

While there are no stats to consider, OPEC’s monthly report is due out this afternoon that will provide crude oil prices with direction. The focus will likely be on forecasts for demand, which remain at risk to a marked decline as global economic woes linger.

Away from the economic calendar, any positive news from Capitol Hill would support the Loonie late in the day.

At the time of writing, the Loonie was up by 0.08% to C$1.2759 against the U.S Dollar.

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