It's a busy day ahead on the economic calendar, with manufacturing sector PMI numbers and German retail sales figures to keep the markets busy.
It was a busy start to the day on the economic calendar this morning. The Aussie Dollar and the Japanese Yen were in action in the early part of the day. Economic data from China was also in focus this morning.
The manufacturing sector was in focus.
In July, the AIG Manufacturing Index slipped from 63.2 to 60.8. Economists had forecast a decline to 63.0.
According to the July Survey,
The Aussie Dollar moved from $0.73430 to $0.73455 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.11% to $0.7336.
The manufacturing PMI rose from 52.4 to 53.0 in July, according to finalized figures, which was up from a prelim 52.2.
According to the July survey,
The Japanese Yen moved from ¥109.617 to ¥109.642 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.01% to ¥109.730 against the U.S Dollar.
The Caixin Manufacturing PMI fell from 51.3 to 50.3 Economists had forecast a decline to 51.0.
According to the July survey,
The Aussie Dollar moved from $0.73391 to $0.73335 upon release of the figures.
At the time of writing, the Kiwi Dollar was down by 0.19% to $0.6961.
It’s a busy day ahead on the economic data front. Manufacturing sector PMIs for Italy and Spain and German retail sales will be in focus. Finalized manufacturing PMIs for France, Germany, and the Eurozone are also due out in the day.
Barring any marked revisions to prelim numbers, expect Italy and the Eurozone’s PMIs and German retail sales figures to be key.
At the time of writing, the EUR was down by 0.08% to $1.1861.
It’s a quiet day ahead on the economic calendar. Finalized manufacturing PMI numbers are due out later today. Barring any marked revision from prelim figures, however, the stats should have a muted impact on the Pound.
At the time of writing, the Pound was down by 0.09% to $1.3891.
It’s a relatively busy day ahead on the economic calendar.
The ISM Manufacturing PMI is due out along with the finalized Markit Manufacturing PMI.
Expect the ISM number to be the key driver.
Away from the economic calendar, FOMC member chatter and COVID-19 news will also influence.
At the time of writing, the U.S Dollar Spot Index was down by 0.05% to 92.129.
It’s a particularly quiet day on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of PMI numbers from China, the Eurozone, and the U.S.
At the time of writing, the Loonie was down by 0.07% to C$1.2484 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.