Economic Data and Central Bank Chatter Leaves the EUR in Focus

Earlier in the Day:

It was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and the Aussie Dollar were in action this morning.

For the Japanese Yen

Inflation figures were in focus this morning.

According to the Ministry of Internal Affairs and Communication,

• Ku-area of Tokyo’s core annual rate of inflation picked up from 0.1% to 0.3% in November.
• Prices for fuel, light, and water charges were up 9.0%, with prices for culture & recreation up 5.1%.
• There were also increases in prices for education (1.4%) and housing (0.5%).
• Prices for transportation & communication were down by 10.1%, however.
• There were also falls in prices for clothes & footwear (-0.6%), medical care (-0.5%), and furniture & household utensils (-0.2%).

The Japanese Yen moved from ¥115.229 to ¥115.127 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.40% to ¥114.870 against the U.S Dollar.

 

For the Aussie Dollar

In October, retail sales jumped by 4.9% versus a forecasted 2.5% rise, according to prelim figures. Retail sales had risen by 1.3% in September.

According to the ABS,

• Food retailing fell by 0.5%, while household goods retailing increased by 4.5% in the month.
• There were also increases in retailing for:
  • Clothing, footwear, & personal accessories (+27.7%).
  • Department stores (+22.4%).
  • Other retailing (+2.2%).
  • Cafes, restaurants, & takeaway food services (+12.3%).

The Aussie Dollar moved from $0.71686 to $0.71723 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.22% to $0.7174.

Elsewhere

The Kiwi Dollar was down by 0.22% to $0.6845.

The Day Ahead

For the EUR

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.

With no material stats, French consumer confidence and Italian business confidence figures will draw interest.

On the monetary policy front, ECB President Lagarde will also be in focus later in the day. Expect any policy chatter to influence.

At the time of writing, the EUR was up by 0.13% to $1.1224.

For the Pound

It’s also a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.

The lack of stats will leave the Pound in the hands of central bank chatter and COVID-19 news.

At the time of writing, the Pound was down by 0.10% to $1.3309.

Across the Pond

The U.S markets are on a shortened session. There are no major stats to provide the Greenback or the broader markets with direction.

For the Loonie

It’s also a particularly quiet day ahead, with no major stats to consider.

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 0.14% to C$1.2666 against the U.S Dollar.

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