It's a particularly busy day on the economic calendar, with private sector PMIs and the FED in focus. Expect news from Capitol Hill to also influence.
It’s was a busy start to the day on the economic calendar this morning. The Kiwi Dollar and the Japanese Yen were in action in the early part of the day.
3rd quarter current account figures were in focus in the early part of the day.
Year-on-year, the current account slid from a NZ$1.83bn surplus to a NZ$3.52bn deficit in the 3rd quarter. Economists had forecast a deficit of NZ$3.65bn. Quarter-on-quarter, the current account deficit narrowed from NZ$5.77bn to a deficit of NZ$2.55bn. Economists forecasted a deficit of NZ$2.57bn.
The Kiwi Dollar moved from $0.70912 to $0.70859 upon release of the figures. At the time of writing, the Kiwi Dollar was flat at $0.7088.
Trade data for November and prelim private sector PMI numbers for December were also in focus this morning.
In November, the trade surplus narrowed from ¥827.9bn to ¥366.8bn. Economists had forecast a narrowing to ¥529.8bn.
According to figures released by the Ministry of Finance,
The Japanese Yen moved from ¥103.643 to ¥103.589 upon release of the figures that preceded the private sector PMIs.
In December, the Services PMI fell from 47.8 to 47.2, while the Manufacturing PMI rose from 49.0 to 49.7. Economists had forecast PMIs of 48.5 and 50.0 respectively.
According to the December Markit Survey,
The Japanese Yen moved from ¥103.649 to ¥103.665 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.03% to ¥103.70 against the U.S Dollar, while
At the time of writing, the Aussie Dollar was down by 0.13% to $0.7546.
It’s a busy day ahead on the economic calendar. Prelim private sector PMI numbers for France, Germany, and the Eurozone are due out later today.
Expect plenty of influence from the numbers, with the 2nd lockdown across EU member states likely to hit service sector activity.
Eurozone trade figures are also due out but would likely have a muted impact on the EUR.
Away from the economic calendar, Brexit and COVID-19 news updates will also need monitoring.
At the time of writing, the EUR was up by 0.02% to $1.2154.
It’s a relatively busy day ahead on the economic calendar. Key stats include November inflation figures and prelim private sector PMI numbers for December.
Expect the services PMI to have the greatest impact on the day.
Away from the economic calendar, however, Brexit chatter will remain the key driver.
At the time of writing, the Pound was down by 0.16% to $1.3436.
It’s a busy day ahead on the economic calendar. November retail sales figures are due out along with prelim private sector PMI numbers for December.
Expect the retail sales and services PMI numbers to have the greatest influence on the day.
Other stats due out include business inventory figures that should have a muted impact on the Dollar.
Away from the economic calendar, however, updates from stimulus talks on Capitol Hill will also influence.
At the time of writing, the Dollar Spot Index was up by 0.05% to 90.518.
It’s a relatively busy day ahead on the economic data front. Key stats include November inflation and October wholesale sales figures.
Expect the inflation numbers to have the greatest influence.
At the time of writing, the Loonie was down by 0.06% to C$1.2708 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
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.