Economic Data from China to Set the Tone for the DayWith the U.S markets closed, economic data is on the lighter side later today. China’s 4th quarter GDP numbers and COVID-19 news updates will be in focus.
Earlier in the Day:
It’s was a quiet start to the day on the economic calendar this morning. There were no material stats to provide the markets with direction in the early hours. Later this morning, however, economic data from China will set the tone.
Key stats due out of China later this morning include 4th quarter GDP figures along with industrial production and retail sales numbers.
Unemployment and fixed asset investment figures for December are also due out but will likely have a muted impact on risk sentiment.
For the Majors
The Japanese Yen was up by 0.06% to ¥103.79 against the U.S Dollar.
The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic calendar. Finalized December inflation figures from Italy are due out.
The numbers are unlikely to influence, however.
Expect COVID-19 news and updates from Rome to influence. Political uncertainty, amidst the COVID-19 pandemic, will test EUR support. Conte will now need to avoid going back to the polls…
At the time of writing, the EUR was down by 0.06% to $1.2075.
For the Pound
It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.
The lack of stats will leave COVID-19 news to provide direction. A pickup in vaccination rates should provide support, though the markets will need to see new cases begin to fall.
At the time of writing, the Pound was down by 0.07% to $1.3580.
Across the Pond
It’s a particularly quiet day ahead on the economic calendar, with the U.S markets closed today.
The lack of stats will leave the Greenback in the hands of market risk sentiment and COVID-19 news.
At the time of writing, the Dollar Spot Index was up by 0.03% to 90.800.
For the Loonie
It’s another quiet day on the economic data front. Housing start figures for December are due out later today.
The numbers are unlikely to have a material impact on the Loonie ahead of Wednesday’s monetary policy decision.
Economic data from China and COVID-19 news updates will likely be the key drivers on the day.
At the time of writing, the Loonie was down by 0.26% to C$1.2765 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.