It's another busy day ahead for the majors, with Brexit and economic data out of the UK and the U.S the key drivers.
It was a relatively busy day on the economic calendar through the Asian session this morning.
The Aussie Dollar was in action in the early part of the day, with September employment and business confidence figures providing direction.
According to the ABS,
While the employment figures were a boost for the Aussie Dollar, business confidence deteriorated in the 3rd quarter.
According to the latest NAB Report,
The Aussie Dollar moved from $0.67582 to a $0.67814 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.51% to $0.6793.
At the time of writing, The Japanese Yen was down by 0.02% to ¥108.78 against the U.S Dollar, while the Kiwi Dollar was up by 0.06% to $0.6296.
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.
The lack of stats will leave the EUR in the hands of Brexit chatter throughout the day. Progress on Brexit and rising hopes of a deal would be considered EUR positive.
At the time of writing, the EUR was up by 0.05% to $1.1078.
It’s a relatively busy day ahead on the data front. September retail sales figures are due out of the UK later today. The month-on-month retail sales figure will have the greatest impact on the day.
While we can expect the sales figures to influence, Brexit will continue to have the greatest impact on the Pound.
At the time of writing, the Pound was down by 0.05% to $1.2825.
It’s also a relatively busy day ahead on the economic calendar. In the early part of the U.S session, September building permit and housing start figures are due out, alongside October’s Philly FED manufacturing numbers.
Later in the session, September industrial production figures are also due out.
Of less influence on the day will be the weekly initial jobless claims figures.
On the geopolitical front, Brexit and any chatter on trade will also need to be monitored over the course of the day.
The Dollar Spot Index was down 0.01% to 97.989 at the time of writing.
It’s a relatively quiet day on the economic calendar, with August manufacturing sales figures due out later today. We can expect the Loonie to react to today’s figures, with further support likely to kick in should sales figures impress.
The Loonie was down by 0.01% at C$1.3203, 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.