Economic Data, Monetary Policy, and U.S Politics Put the EUR and the Dollar 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 direction through the Asian session.

While there were no material stats, the Vice Presidential Debate was in focus this morning.

For the race to the Oval Office, how Harris performs, in particular, could have a material impact on the Presidential Election.

Expect a Harris debate victory to weigh on market risk sentiment and drive demand for the Dollar and the Japanese Yen.

For the Majors

At the time of writing, the Japanese Yen was down by 0.04% ¥106.02 against the U.S Dollar. The Aussie Dollar was down by 0.11% to $0.7131, with the Kiwi Dollar down by 0.43% to $0.6552.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Key stats included August trade data from Germany.

Barring particularly impressive numbers, the stats should have a relatively muted impact on the EUR.

Updates from Brexit talks and market risk sentiment will likely be the key drivers on the day.

While Brexit talks will garner plenty of interest, chatter from the U.S following the VP debate will also provide direction.

On the monetary policy front, the ECB monetary policy meetings are due out. The minutes could provide some idea of how much resistance there is to deliver further policy support.

At the time of writing, the EUR was up by 0.02% to $1.1765.

For the Pound

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

The lack of stats leaves the Pound firmly in the hands of Brexit updates.

At the time of writing, the Pound was up by 0.03% to $1.2923.

Across the Pond

It’s a relatively quiet day ahead for the U.S Dollar. The weekly jobless claims figures are in focus later in the day.

Following disappointing non-farm payroll figures and last week’s claims numbers, any increase in claims would test risk appetite.

Away from the economic calendar, election chatter will also be in focus as the markets respond to the Vice Presidential debate.

The Dollar Spot Index was up by 0.02% to 93.613 at the time of writing.

For the Loonie

It’s a relatively quiet day ahead. August housing sector data is due out later today. We don’t expect any influence from the numbers, however.

Market risk sentiment will be the key driver on the day.

At the time of writing, the Loonie was down by 0.01% to C$1.3257 against the U.S Dollar.

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