Economic Data Puts the EUR back in the Spotlight

Earlier in the Day:

It is a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and the Aussie Dollar will be in action in the early hours of this morning.

From Japan, industrial production and retail sales figures will be in focus ahead of private sector credit numbers from Australia.

Following disappointing private sector PMI numbers from China, however, concerns over growth could test support for riskier assets.

At the time of writing, the Japanese Yen was down by 0.09% to  ¥115.360 against the U.S Dollar, while the Aussie Dollar was up by 0.07% to $0.6993. The Kiwi Dollar was down by 0.03% to $0.6546.

The Day Ahead

For the EUR

It’s a busy day ahead on the economic calendar. 4^th quarter GDP numbers for the Eurozone and inflation figures for Germany will be the key stats of the day. Spanish inflation figures are also due out but should have a muted impact on the majors.

At the time of writing, the EUR was up down 0.06% to $1.1144.

For the Pound

It’s yet another particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction. The lack of stats will leave market sentiment towards BoE monetary policy and UK politics to provide direction.

At the time of writing, the Pound was down by 0.01% to $1.3400.

Across the Pond

It’s a quiet day ahead on the economic data front. January’s Chicago PMI is due out, which should have a muted impact on the Dollar. The markets are now looking for indicators that would force the FED into a more aggressive move on policy.

On Friday, the U.S Dollar Spot Index rose by 0.05% to end the day at 97.270.

For the Loonie

It’s also a quiet day ahead. RMPI numbers for December are due out. With little else for the markets to consider, expect the numbers to influence. From elsewhere, China’s stats and crude oil prices will also provide direction.

At the time of writing, the Loonie was down by 0.01% to C$1.2771 against the U.S Dollar.

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