Economic Data from the UK and Canada to Put the Pound and the Loonie in Focus

Earlier in the Day:

It was a relatively quiet start to the day on the economic calendar this morning. The Japanese Yen was in action this morning. On the monetary policy front, the PBoC also delivered its August Loan Prime Rates decision. There were no surprises, however, with the PBoC leaving Loan Prime Rates unchanged

For the Japanese Yen

Inflation was in focus this morning.

In July, core consumer prices fell by 0.2%, year-on-year, versus a forecasted 0.4% decline. Core consumer prices had been up by 0.2% in June.

The annual rate of inflation picked up from 0.1% to 0.2% in July, however. Economists had forecast the annual rate of inflation to hold at 0.1%.

The Japanese Yen moved from ¥109.771 to ¥109.782 upon release of the figures. At the time of writing, the Japanese Yen was down 0.05% to ¥109.790 against the U.S Dollar.

Elsewhere

At the time of writing, the Aussie Dollar was up by 0.03% to $0.7149, while the Kiwi Dollar was down by 0.18% to $0.6827.

The Day Ahead

For the EUR

It’s a particularly quiet day ahead on the economic data front. Economic data is limited to German wholesale price data, which should have limited impact on the EUR.

The lack of stats will continue to leave the EUR in the hands of market risk sentiment and COVID-19 news.

At the time of writing, the EUR was up by 0.08% to $1.1684.

For the Pound

It’s a busier day ahead on the economic calendar. Retail sales figures for July are due out later this morning.
With all eyes on the BoE, expect the numbers to move the dial.

At the time of writing, the Pound was down by 0.01% to $1.3638.

Across the Pond

It’s a particularly quiet day ahead on the economic calendar. There are no major stats due out of the U.S to provide the markets with direction.

The lack of stats will leave FOMC member chatter in focus as the markets begin gearing up for Jackson Hole…

At the time of writing, the U.S Dollar Spot Index was down by 0.04% to 93.529.

For the Loonie

It’s a relatively busy day on the economic calendar. Retail sales and housing sector data are due out later today.

Expect the retail sales figures to be key…

At the time of writing, the Loonie was up by 0.08% to C$1.2818 against the U.S Dollar.

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