Economic Data Puts the EUR and the Loonie in Focus

Earlier in the Day

It’s was a quieter start to the day on the economic calendar this morning. The Japanese Yen and Aussie Dollar were in focus early on, with the Bank of Japan in action later this morning.

For the Japanese Yen

Inflation was back in focus this morning. In February, core consumer prices fell by 0.4%, year-on-year, which was in line with forecasts.

In January, core consumer prices had fallen by 0.6%, year-on-year.

Consumer prices also fell by 0.4%, year-on-year, in February. In January, consumer prices had fallen by 0.6%.

Th Japanese Yen moved from ¥108.914 to ¥108.9440 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.18% to ¥109.09 against the U.S Dollar.

For the Aussie Dollar

In February, retail sales fell by 1.1% month-on-month, reversing a 0.3% rise from January according to prelim figures.

According to the ABS,

• Food retailing led the falls by industry, falling by 3% in the month.
• Elsewhere, the results were mixed across the industries. Temporary store closures in February impacted sales.
• When compared with February 2020, however, turnover was up 8.7%.

The Aussie Dollar moved from $0.77545 to $0.77403 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.22% to $0.7742.

Elsewhere

At the time of writing, the Kiwi Dollar was down by 0.15% to $0.7156.

The Day Ahead:

For the EUR

It’s a relatively quiet day on the economic calendar. Wholesale inflation figures from Germany are due out later this morning.

Barring a marked spike in wholesale inflationary pressures, however, we don’t expect too much influence from the numbers.

With stats on the lighter side, market risk sentiment and COVID-19 news updates will need considering.

At the time of writing, the EUR was down by 0.07% to $1.1907.

For the Pound

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

The lack of stats will leave the Pound in the hands of market risk sentiment on the day.

At the time of writing, the Pound was down by 0.14% to $1.3906.

Across the Pond

It’s a particularly 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 the Dollar in the hands of FOMC member chatter and news from Capitol Hill.

At the time of writing, the Dollar Spot Index was up by 0.05% to 91.905.

For the Loonie

It’s another relatively busy day on the economic calendar. January retail sales figures are due out later today.

With little else for the markets to consider, expect Loonie sensitivity to the numbers.

At the time of writing, the Loonie was down by 0.10% to C$1.2500 against the U.S Dollar.

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