Economic data from Germany and consumer confidence figures from the U.S will influence today. Geopolitics and COVID-19 news will also play a role...
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 in the early part of the day.
A lack of stats left the markets to respond to the latest COVID-19 vaccine news from the U.S. Talks of the U.S administration looking to fast track an Oxford University vaccine supported risk appetite early on.
It’s another quiet day on the economic data front. There are no material stats to provide the Loonie with direction.
We would expect COVID-19 and geopolitics to continue to drive market risk appetite. Market sentiment towards the global economic outlook and crude oil prices would ultimately influence the Loonie on the day.
Last week’s PMIs from the Eurozone and a gloomy FED will be a test amidst the optimism of a COVID-19 vaccine.
At the time of writing, the Loonie was down by 0.11% to C$1.3233 against the U.S Dollar.
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.