Economic Data Puts the EUR in Focus, while COVID-19 Will Remain a Key Driver

Earlier in the Day:

It was a particularly quiet start to the day on the economic calendar this morning. There were no major stats to provide the majors with direction in the early hours.

The lack of stats left the markets to respond to Friday’s NFP numbers from the U.S and the latest COVID-19 news updates.

On the Omicron news front, the continued spread of the new strain and rising infections amongst the double-vaccinated will be a concern as winter roles in.

For the Majors

At the time of writing, the Japanese Yen was down by 0.18% to ¥113.000 against the U.S Dollar, while the Aussie Dollar was up by 0.19% to $0.7014. The Kiwi Dollar was down by 0.01% to $0.6749.

The Day Ahead

For the EUR

It’s a relatively busy day ahead on the economic calendar. German factory orders and construction PMI figures are due out early in the European session.

Expect October factory orders to have the greatest influence on the EUR.

Away from the economic calendar, member state chatter on the new strain and any further plans to contain the spread would also influence, however.

At the time of writing, the EUR was down by 0.20% to $1.1292.

For the Pound

It’s a quiet day ahead on the economic calendar. Construction PMI figures for November are due out, which should have a muted impact on the Pound.

At the time of writing, the Pound was down by 0.03% to $1.3232.

Across the Pond

It’s a particularly quiet day ahead. There are no material stats to consider later today.

The lack of stats will leave chatter from Capitol Hill and COVID-19 news updates in focus.

At the time of writing, the Dollar Spot Index was up by 0.16% to $96.269.

For the Loonie

It’s also a particularly quiet day ahead, with no material stats to consider.

The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment.

At the time of writing, the Loonie was up by 0.12% to C$1.2827 against the U.S Dollar.

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