Inflation figures from the Eurozone and stats from Canada put the EUR and the Loonie in focus. There are no stats from the U.S, however, with the U.S markets closed.
It was a busy start to the day on the economic calendar this morning. The Japanese Yen, the Aussie Dollar, the Kiwi Dollar were all in action this morning, with economic data from China also in focus.
Industrial production and retail sales figures were out this morning.
In April, industrial production rose by 2.5%, following a 1.7% increase in March. Economists had forecast a 4.1% jump in production.
According to the Ministry of Economy, Trade and Industry,
Industries that mainly contributed to the increase:
Industries that mainly contributed to the decrease:
According to the Ministry of Economy, Trade and Industry, retail sales surged by 12.0%, following a 5.2% increase in March. Economists had forecast a 15.3% surge.
The Japanese Yen moved from ¥109.919 to ¥109.932 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.13% to ¥109.71 against the U.S Dollar.
In May, the ANZ Business Confidence Index rose from -2 to 2.0.
According to the latest ANZ Report,
The Kiwi Dollar moved from $0.72398 to $0.72450 upon release of the figures. At the time of writing, the Kiwi Dollar down by 0.06% to $0.7246.
In May, the NBS Manufacturing PMI slipped from 51.1 to 51.0. Economists had forecast a hold at 51.1. The non-manufacturing PMI increased from 54.9 to 55.2.
As a result, the NBS Composite PMI rose from 53.8 to 54.2.
The Aussie Dollar moved from $0.77119 to $0.77193 upon release of the figures that preceded private sector credit figures from the RBA.
Private sector credit rose by 0.2% in the month of April. In March, private sector credit had risen by 0.4%.
According to the RBA,
The Aussie Dollar moved from $0.77207 to $0.77186 upon release of the figures. At the time of writing, the was Aussie Dollar was up by 0.08% to $0.7718.
It’s a relatively busy day ahead on the economic data front, with the inflation in focus.
Prelim inflation figures for May are due out of Germany, Italy, and Spain.
Expect Italy and Germany’s inflation figures to draw the greatest interest. With the markets expecting a continued pickup in inflationary pressure, a larger than expected uptick would give the EUR a boost.
At the time of writing, the EUR was up by 0.03% to $1.2196.
It’s a quiet day ahead on the economic calendar. There are no material stats due out, with the UK markets closed at the start of the week.
At the time of writing, the Pound was up by 0.03% to $1.4192.
It’s a quiet day ahead on the calendar, with the U.S markets also closed.
At the time of writing, the Dollar Spot Index was down by 0.01% to 90.025.
It’s a relatively quiet day ahead on the economic data front. 1st quarter current account and April RMPI numbers are due out.
Expect April’s RMPI numbers to have a greater influence on the day.
From earlier in the day, manufacturing sector PMI numbers from China will also provide direction.
At the time of writing, the Loonie was down by 0.01% to C$1.2077 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.