Economic Data and the ECB Monetary Policy Meeting Minutes in Focus

Earlier in the Day:

It was another quiet start to the day on the economic calendar this morning. Following a busy start to the week, there were no major stats for the markets to consider through early part of the Asian session. Late this morning, RBA Governor Lowe is scheduled to speak and could move the dial for the Aussie Dollar.

The lack of stats left the markets to respond to the overnight FOMC meeting minutes.

For the Majors

At the time of writing, the Japanese Yen was up by 0.03% to ¥110.630 against the U.S Dollar, while the Aussie Dollar was down by 0.03% to $0.7485. The Kiwi Dollar was down by 0.07% to $0.7014.

The Day Ahead

For the EUR

It’s a relatively quiet day ahead on the economic data front. German trade data for May will be in focus later this morning.

From the ECB, the monetary policy meeting minutes will also draw plenty of attention, however.

The markets are expecting the ECB to remain committed to delivering unwavering support.

At the time of writing, the EUR was up by 0.03% to $1.1794.

For the Pound

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

The lack of stats will leave COVID-19 news and government chatter in focus.

At the time of writing, the Pound was down by 0.01% to $1.3800.

Across the Pond

The weekly jobless claims figures will be in focus later today. With a more meaningful labor market recovery needed to force the FED into action, expect plenty of interest in today’s figures

On Wednesday, the Dollar Spot Index rose by 0.11% to end the day at 92.644.

For the Loonie

It’s a particularly quiet day ahead on the economic data front. There are no material stats to provide the Loonie with direction.

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

At the time of writing, the Loonie was down by 0.02% to C$1.2483 against the U.S Dollar.

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