Economic Data Puts the EUR and the Loonie in the Spotlight, with COVID-19 also in FocusIt’s a busier day ahead, with economic data from the Eurozone and Canada key stats to consider. COVID-19 news updates will also need monitoring, however.
Earlier in the Day:
It was a quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider in the early part of the day.
The lack of stats left the markets to take direction from the U.S session and from news wires.
The Day Ahead:
For the EUR
It’s a busy day ahead on the economic calendar. Service sector PMIs for Italy and Spain are due out later today.
Finalized numbers are also due out of France, Germany, and the Eurozone.
Expect Italy and the Eurozone’s numbers to have the greatest impact on the EUR.
Away from the economic calendar, COVID-19 news updates will also influence.
Late in the session, the FOMC meeting minutes are also due out. The minutes should provide the markets with little else to consider from the projections and Powell testimony.
At the time of writing, the EUR was down by 0.02% to $1.1874.
For the Pound
It’s also a relatively quiet day ahead on the economic calendar. Finalized services and composite PMI numbers for March are due out later today.
The markets will be looking for any revisions to the services PMI.
Away from the calendar, with the UK making good progress on the vaccine front, news from the UK government on easing measures will also draw attention.
At the time of writing, the Pound was up by 0.01% to $1.3825.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar. Trade data is due out later today that should have a relatively muted impact on the Greenback.
Late in the session, the FOMC meeting minutes are due out that will draw some attention as will any chatter from Capitol Hill.
On Tuesday, the Dollar Spot Index fell by 0.28% to 92.335.
For the Loonie
It’s a busier day ahead on the economic calendar. Ivey PMI figures for March and trade data for February are due out.
We can expect today’s stats to influence, though crude oil inventory numbers may have the final say late in the day.
At the time of writing, the Loonie was down by 0.04% to C$1.2571 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.