U.S data later today and any further updates from Beijing and Washington on trade will influence risk sentiment later in the day.
It’s a relatively busy day on the economic calendar through the Asian session this morning.
The Kiwi Dollar and Aussie Dollar were in action in the early part of the day, with trade data and construction figures providing direction.
On the geopolitical front, while optimism over trade remained, a lack of commitment to a signing of an agreement limited any moves in the riskier assets.
The trade deficit narrowed from NZ$5,330m to NZ$5,040m, year-on-year, in October. Month-on-month, the deficit narrowed from NZ$1,319m to NZ$1,013m.
According to NZ Stats,
The Kiwi Dollar moved from $0.64287 to $0.64271 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.02% to $0.6429.
Construction work done fell by 0.4%, quarter-on-quarter, in the 3rd quarter, following on from a 3.8% slide in the 2nd quarter. Economists had forecast a 1% decline.
According to the ABS,
The Aussie Dollar moved from $0.67872 to $0.67874 upon release of the figures. At the time of writing, the Aussie Dollar up by 0.01% to $0.6789.
At the time of writing, the Japanese Yen was down by 0.05% to ¥109.11 against the U.S Dollar.
It’s a relatively quiet day ahead on the economic calendar. Key stats are limited to French jobseeker numbers that are unlikely to have a material impact on the EUR.
Outside of the numbers, market risk sentiment will continue to provide direction. The big question is whether the U.S and China are any nearer to a finalized phase 1 agreement as talks drag on.
At the time of writing, the EUR was down by 0.05% to $1.1016.
It’s yet another quiet day on the data front. There are no material stats due out of the UK to provide direction to the Pound.
A lack of stats continues to leave the Pound in the hand of UK Politics, with opinion polls and predictions to provide direction throughout the day.
At the time of writing, the Pound was down by 0.09% to $1.2855.
It’s another busy day on the economic calendar. Key stats due out of the U.S include October durable goods orders and core durable goods orders. The FED’s preferred Core PCE Price Index figures are also due out along with 3rd estimate GDP numbers and personal spending figures.
Barring dire numbers, the weekly jobless claims figures, pending home sales, and Chicago PMI will likely have a muted impact on the Greenback.
Outside of the numbers, any further updates from Beijing and Washington on trade will also be key.
At the time of writing, the Dollar Spot Index was up 0.07% at 98.316.
It’s a quiet day on the economic calendar, with no material stats scheduled for release through the day.
The lack of stats leaves the Loonie in the hands of the weekly crude oil inventory numbers and any trade talk.
The Loonie was down by 0.03% to C$1.3276, 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.