Central Bank Chatter and U.S Consumer Confidence Keep the EUR, GBP, and the USD in Focus

Earlier in the Day:

It was quiet start to the day on the economic calendar this morning. The Aussie dollar was in action early this morning.

For the Aussie Dollar

Retail sales fell by 1.7% in August, according to prelim figures, coming in ahead of a forecasted 2.5% decline. In July, retail sales had fallen by 2.7%.

According to the ABS,

• Food retailing rose by 2.1%, while household goods retailing fell by 2.3%.
• Clothing, footwear, & personal accessory retailing tumbled by 15.7% in August, with department store sales down 10.2%.
• Cafes, restaurants, & takeaway food services also struggled as a result of lockdown measures, with sales down 7.0%.

The Aussie Dollar moved from $0.72703 to $0.72727 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.19% to $0.72720.

Elsewhere

At the time of writing, the Japanese Yen was down by 0.10% to ¥111.110 against the U.S Dollar, with the Kiwi Dollar down by 0.17% to $0.7005.

The Day Ahead

For the EUR

It’s a relatively quiet day ahead on the economic calendar. GfK consumer climate figures for Germany will be in focus going into the European open.

With increased sensitivity to sentiment figures, expect the numbers to influence.

On the monetary policy front, ECB President Lagarde is scheduled to speak later in the day, which could also move the dial.

At the time of writing, the EUR was down by 0.07% to $1.1687.

For the Pound

It’s a particularly quiet day ahead on the economic calendar.

There are no material stats due out of the UK to provide the direction, leaving the Pound in the hands of market risk sentiment.

Late in the day, BoE Governor Bailey is scheduled to speak. Expect any hawkish chatter to support the Pound.

At the time of writing, the Pound was down by 0.06% to $1.3690.

Across the Pond

It’s a relatively quiet day ahead. Consumer confidence figures for September will be in focus later in the day.

With consumption key to the U.S economy, we can expect sensitivity to the numbers.

On the monetary policy front, FOMC member chatter will also draw attention. FED Chair Powell is scheduled to speak late in the day. Expect plenty of interest, with any comments on the economy or monetary policy to influence. Last week, Powell look to calm market fears of a sooner rather than later shift in interest rate policy.

At the time of writing, the U.S Dollar Spot Index was up by 0.12% to $93.492.

For the Loonie

It’s another particularly quiet day ahead for the Loonie. There are no material stats due out of Canada later today.

The lack of stats will leave the Loonie in the hands of market risk sentiment and crude oil prices.

At the time of writing, the Loonie was down by 0.03% to C$1.2632 against the U.S Dollar.

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