Eurozone unemployment and U.S weekly jobless claims figures will be in focus today. While the stats will influence, COVID-19 news updates will likely remain the key driver.
It was a relatively busy start to the day on the economic calendar this morning. The Aussie Dollar was in action this morning.
It was a relatively busy morning, with finalized retail sales and trade data in focus.
In October, retail sales rose by 4.9%, which was in line with prelim figures. Retail sales had risen by 1.3% in September.
Australia’s trade surplus, narrowed from A$11.82bn to A$11.22bn in October, however.
According to the ABS,
The Aussie Dollar moved from $0.71097 to $0.71045 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.06% to $0.7101.
At the time of writing, the Japanese Yen was down by 0.17% to ¥112.970 against the U.S Dollar, while the Kiwi Dollar was up by 0.04% to $0.6812.
It’s a quiet day ahead on the economic calendar. Eurozone unemployment figures for October will be in focus in the early part of the European session.
Barring an unexpected pickup in the unemployment rate, however, the numbers should have a muted impact on the EUR.
Alongside the unemployment figures, wholesale inflation figures for the Eurozone may garner more interest, however.
Expect central bank chatter and news updates on COVID-19 to remain key drivers.
At the time of writing, the EUR was flat at to $1.1320.
It’s a particularly quiet day ahead on the economic calendar. The lack of stats will leave the Pound in the hands of COVID-19 chatter and market risk sentiment on the day.
At the time of writing, the Pound was flat at $1.3279.
It’s a relatively quiet day ahead. Weekly jobless claims figures will be in focus later in the day. Following a fall back to sub-200k levels, the markets will be looking for the downward trend to continue ahead of tomorrow’s NFP numbers.
At the time of writing, the Dollar Spot Index was up by 0.02% to 96.051.
It’s a quiet day ahead, with no major stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of crude oil prices, with OPEC’s meeting in focus.
At the time of writing, the Loonie was down by 0.01% to C$1.2819 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.