Economic Data Puts the EUR and the Loonie in the Spotlight

Earlier in the Day:

It was a relatively quiet start to the day on the economic calendar this morning. Economic data from China was in focus this early morning.

Out of China

Inflation figures were in focus this morning.

In March, consumer prices fell by 0.5%, reversing a 0.6% increase in February. In spite of the fall in March, inflationary pressure returned. The annual rate of inflation accelerated from -0.2% to 0.4%. Economists had forecast consumer prices to fall by 0.4%, month-on-month, and to rise by 0.3% year-on-year.

Wholesale inflationary pressures surged at the end of the 1^st quarter. The producer price index increased by 4.40%, year-on-year, which was well above a forecasted 3.5% increase. In February, the PPI had risen by 1.7%.

The Aussie Dollar moved from $0.76504 to $0.76435 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.08% to $0.7647

For the Majors

At the time of writing, the Japanese Yen was down by 0.04% to ¥109.30 against the U.S Dollar, with the Kiwi Dollar down by 0.06% to $0.7052.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. German industrial production and trade figures for February are due out later this morning.

Following Germany’s impressive private sector PMI numbers for February and March, the markets will be looking for the stats to be aligned.

Away from the economic calendar, COVID-19 news and progress on the vaccination front will also influence.

At the time of writing, the EUR was down by 0.03% to $1.1911.

For the Pound

It’s a quiet day ahead on the economic calendar. House price figures for March are due out later today. We don’t expect too much influence from the numbers, however.

Government easing measures and success on the vaccination front remain key drivers for the Pound near-term.

At the time of writing, the Pound was up by 0.01% to $1.3737.

Across the Pond

It’s a relatively quiet day ahead on the economic calendar. Wholesale inflation figures for March are due out later today.

The markets are expecting a pickup in wholesale inflationary pressures, which would be in line with the latest PMI surveys.

Away from the economic calendar, chatter from Capitol Hill will also need monitoring later in the day.

At the time of writing, the Dollar Spot Index was down by 0.03% to 92.036.

For the Loonie

It’s a relatively busy day ahead on the economic calendar. Employment figures for March are due out later today. With little else for the markets to consider on the day, expect the employment change figures to be the key driver.

Market risk sentiment and sentiment towards crude oil demand will also need considering on the day, however.

At the time of writing, the Loonie was down by 0.06% to C$1.2570 against the U.S Dollar.

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