It's another quiet day on the economic calendar. Employment figures from the UK will put the Pound in focus later today, however.
It was a particularly quiet start to the day on the economic calendar this morning. There were no material stats out in the early hours to provide the majors with direction.
While there were no stats, the PBoC was in action, with the RBA meeting minutes also out to draw attention.
In line with market expectations, the PBoC left loan prime rates unchanged in April.
The 1-year LPR was left unchanged at 3.85%, with the 5-year unchanged at 4.65%.
The Aussie Dollar moved from $0.77712 to $0.77739 upon the decision to hold rates steady that coincided with the release of the RBA meeting minutes.
This morning, the RBA released its meeting minutes from 6th April.
Salient points from the minutes included:
At the time of writing, the Aussie Dollar was up by 0.27% to $0.7780.
At the time of writing, the Japanese Yen was down by 0.10% to ¥108.28 against the U.S Dollar, while the Kiwi Dollar was up by 0.17% to $0.7197.
It’s a relatively quiet day ahead on the economic calendar. Wholesale inflation figures from Germany are due out later today. Barring a marked pickup in wholesale inflationary pressures, however the numbers should have a relatively muted impact on the EUR.
The markets are anticipating a pickup in inflationary pressures near-term, which would be aligned with recent PMI surveys.
At the time of writing, the EUR was up by 0.06% to $1.2044.
It’s a busy day ahead on the economic calendar.
Average earnings, claimant counts, and employment change and February’s unemployment rate are due out.
Expect claimant counts for March and February’s unemployment rate to have the greatest influence on the Pound.
Away from the calendar, any unexpected rise in new COVID-19 cases following the easing of lockdown measures would test Pound support.
At the time of writing, the Pound was down by 0.02% to $1.3989.
It’s another quiet day ahead on the economic calendar. There are no material stats to provide the Greenback and the broader markets with direction.
The lack of stats will leave chatter from Capitol Hill and U.S foreign policy in focus.
At the time of writing, the Dollar Spot Index was down by 0.01% to 91.057.
It’s another quiet day ahead 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 geopolitics and market risk sentiment on the day.
At the time of writing, the Loonie was up by 0.15% to C$1.2516 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.