Economic Data and Central Bank Chatter Put the EUR, the Loonie, and the Pound in Focus
Earlier in the Day:
It was a quiet start to the week on the economic calendar this morning, with Australian and China markets closed today. Later this morning, the Japanese Yen will be in action, however.
For the Japanese Yen
Through the early hours, the Japanese Yen was down by 0.10% to ¥109.77 against the U.S Dollar. Later this morning, finalized industrial production figures for April are due out.
Barring any marked revisions, however, we don’t expect the numbers to influence.
According to prelim figures, industrial production increased by 2.5%, month-on-month. In March, production had risen by 1.7%.
The Day Ahead
For the EUR
It’s a quiet day ahead on the economic data front. April industrial production figures for the Eurozone are due out later today.
Following some disappointing production figures from France and Germany, a weak set of numbers would pin the EUR back.
At the time of writing, the EUR was down by 0.07% to $1.2101.
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 Pound with direction.
The lack of stats will leave the Pound in the hands of government plans vis-à-vis remaining COVID-19 restrictions and updates from the G7 Summit.
On the monetary policy front, BoE Gov. Bailey is due to speak late in the day and could move the dial…
At the time of writing, the Pound was up by 0.04% to $1.4113.
Across the Pond
It’s also a quiet day ahead on the economic calendar. There are no material stats due out of the U.S to provide the Dollar with direction.
The lack of stats will leave the Greenback in the hands of market sentiment towards this week’s FOMC meet.
At the time of writing, the Dollar Spot Index was up by 0.02% to 90.576.
For the Loonie
It’s a quiet day ahead on the economic data front. Manufacturing sales figures for April are due out late in the day.
With little else to focus on, we can expect some influence from the numbers.
Ultimately, however, market risk sentiment will be the key driver at the start of the week.
At the time of writing, the Loonie was down by 0.01% to C$1.2159 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.