Brexit, COVID-19, and U.S Politics Keep the GBP, EUR, and the USD in the SpotlightWith economic data on the lighter side, Brexit, COVID-19, and U.S politics will be the key drivers on the day.
Earlier in the Day:
It’s was a quiet start to the week on the economic calendar this morning. There were no material stats to provide the markets with direction early in the day.
The lack of stats left the markets to catch up on news reports from the weekend, with geopolitics in focus.
Brexit, U.S Stimulus talks, and the U.S Presidential Election polls are all key drivers alongside the latest COVID-19 figures.
Of greater concern at the start of the week will likely be the continued surge in new COVID-19 cases.
For the Majors
The Day Ahead:
For the EUR
It’s a relatively busy day ahead on the economic calendar. Key stats include Germany’s Ifo Business Climate and sub-index figures for October.
While the numbers will influence, the latest COVID-19 figures and updates on Brexit will likely be key drivers on the day.
At the time of writing, the EUR was down by 0.12% to $1.1846.
For the Pound
It’s a quiet day ahead on the economic calendar. with no material stats to provide the Pound with direction.
The lack of stats will leave the Pound squarely in the hands of Brexit chatter. News from the weekend was Pound positive, with a compromising Macron raising hopes of a trade deal.
At the time of writing, the Pound was up by 0.09% to $1.3051.
Across the Pond
It’s a relatively quiet day ahead for the U.S Dollar.
Key stats include September’s new home sales figures. The numbers are unlikely to have a material impact on market risk sentiment or the Dollar, however.
U.S politics will remain the key driver as the markets look for any progress towards a stimulus package. With the U.S Presidential Election just over a week away, there should also be more sensitive to the polls.
At the time of writing, the Dollar Spot Index was up by 0.03% to 92.799.
For the Loonie
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of U.S politics and COVID-19.
At the time of writing, the Loonie was down by 0.14% to C$1.3143 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.