Economic Data Puts the EUR, the Loonie, and the Greenback in Focus

Earlier in the Day:

It was a busy start to the week on the economic calendar this morning. The Japanese Yen was in action, with economic data from China also in focus.

For the Japanese Yen

Prelim GDP numbers for the 3^rd quarter were in focus this morning.

Quarter-on-quarter, the economy contracted by 0.8% versus a forecasted 0.2% contraction. In the previous quarter, the economy had expanded by 0.4%.

Year-on-year, the economy contracted by 3.0% versus a forecasted contraction of 0.8%. The economy had expanded by 1.5% in the previous quarter.

The Japanese Yen moved from ¥114.012 to ¥113.977 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.02% to ¥113.870 against the U.S Dollar.

From China

In October, fixed asset investments rose by 6.1%, year-on-year, which was down from 7.3% in September. Economists had forecast a 6.2% rise. China’s unemployment rate held steady at 4.9% in October.

Of greater significance, however, were industrial production figures.

In October, industrial production rose by 3.5%, year-on-year, which was up from 3.1% in September. Economists had forecast a 3.0% increase.

The Aussie Dollar moved from $0.73406 to $0.73412 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.07% to $0.7337.

Elsewhere

At the time of writing, the Kiwi Dollar was up by 0.01% to $0.7045.

The Day Ahead

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Trade data for the Eurozone will be in focus in the early part of the European session.

With little else for the markets to consider, expect the numbers to influence.

At the time of writing, the EUR was up by 0.10% to $1.1457.

For the Pound

It’s a particularly quiet day ahead on the economic calendar.

There are no material stats due out of the UK to provide the Pound with direction.

At the time of writing, the Pound was up by 0.14% to $1.3433.

Across the Pond

It’s a relatively quiet day ahead on the economic calendar.

NY Empire State Manufacturing numbers for November will be in focus later today. With the markets eyeing supply chain issues and impact on prices and productivity, expect any weak numbers to test support for riskier assets.

At the time of writing, the U.S Dollar Spot Index was down by 0.12% to 95.013.

For the Loonie

It’s a relatively busy day ahead. Wholesale and manufacturing sales figures for September are due out later today.

While we can expect the numbers to influence, the impact of data from China and crude oil prices will be key.

At the time of writing, the Loonie was up by 0.08% to C$1.2540 against the U.S Dollar.

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