Economic Data from China Sets the Tone, with the Loonie and Greenback in Focus Later

Earlier in the Day:

It’s was a relatively busy start to the day on the economic calendar this morning. Economic data from China was in focus this morning.

From China

In February, fixed asset investments jumped by 35% year-on-year, coming up short of a forecasted 40% rise. Fixed asset investments had increased by 2.9% in January.

Industrial production surged by 35.1% versus a forecasted 30% jump, with retail sales increasing by 33.8%.

Economists had forecasted retail sales to rise by 32%.

On the negative, however was a rise in the unemployment rate from 5.2% to 5.5%.

The Aussie Dollar moved from $0.77581 to $0.77636 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.03% to $0.7762.

Elsewhere

At the time of writing, the Kiwi Dollar was up by 0.47% to $0.7210, with the Japanese Yen down by 0.06% to ¥109.09 against the U.S Dollar.

The Day Ahead:

For the EUR

It’s a particularly quiet start to the week on the economic calendar. There are no material stats to provide the EUR with direction.

The lack of stats will leave the EUR in the hands of market risk sentiment on the day.

At the time of writing, the EUR was up by 0.05% to $1.1959.

For the Pound

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

With no stats to consider, the Pound will also be in the hands of market risk sentiment on the day.

Government bond yields and COVID-19 vaccine news will be areas of interest

At the time of writing, the Pound was up by 0.09% to $1.3937.

Across the Pond

It’s a relatively quiet day ahead on the economic calendar. NY Empire State Manufacturing Index figures are due out later today.

With little else for the markets to consider, we can expect the numbers to influence.

Away from the economic calendar, FOMC member chatter and news from Capitol Hill will also need monitoring.

On Thursday, the Dollar Spot Index was down by 0.07% to 91.619.

For the Loonie

It’s a relatively busy day on the economic calendar. Housing starts and manufacturing sales figures are due out later today.

While we would expect the manufacturing sales figures to have a greater impact, China’s stats from early in the day will set the tone.

At the time of writing, the Loonie was up by 0.01% to C$1.2464 against the U.S Dollar.

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