It's a relatively quiet day ahead on the economic calendar. Economic sentiment figures from Germany and the Eurozone will be the key stats of the day.
It was a relatively busy start to the day on the economic calendar this morning. The Aussie Dollar was in action this morning.
Economic data this morning included housing sector numbers and business confidence figures. The key stat of the morning was the business confidence figures, however.
In July, the NAB Business Confidence Index fell from 11.0 to -8. Economists had forecast an increase to 14.0.
According to the July Survey,
Looking at the components,
From the housing sector, building permits were down by 6.7% following a 7.6% tumble in May, according to finalized figures. This was in line with prelim figures.
The Aussie Dollar moved from $0.73268 to $0.73219 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.23% to $0.7316.
At the time of writing, the Japanese Yen was down 0.03% to ¥110.320 against the U.S Dollar, with the Kiwi Dollar down by 0.31% to $0.6971.
It’s another relatively quiet day ahead on the economic data front. ZEW Economic Sentiment figures for Germany and the Eurozone are due out later today.
Expect both sets of numbers to influence. While economic data from the Eurozone has been upbeat. Concerns over a 3rd quarter slowdown as a result of a spike in Delta variant COVID-19 cases remains.
Weak numbers would test support for the EUR.
At the time of writing, the EUR was down by 0.03% to $1.1733.
It’s another quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.
At the time of writing, the Pound was down by 0.06% to $1.3838.
It’s a relatively quiet day ahead on the economic calendar.
Unit labor costs and nonfarm productivity numbers for the 2nd quarter are due out later today.
With the markets looking ahead, however, we don’t expect too much influence from the numbers following the latest NFP numbers.
Any FOMC member chatter, however, would draw plenty of interest.
At the time of writing, the U.S Dollar Spot Index was up by 0.06% to 92.997.
It’s another particularly quiet day on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.10% to C$1.2589 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.