Economic Forecasts and Economic Data Put the EUR and Dollar in the Spotlight

Earlier in the Day:

It is a particularly quiet start to the Asian session on the economic calendar. There are no major stats for the markets to consider in the early part of the day.

The Majors

At the time of writing, the Kiwi Dollar was down by 0.04% to $0.6681, with the Japanese Yen down by 0.01% to ¥115.530 against the U.S Dollar. The Aussie Dollar was up by 0.03% to $0.7181.

The Day Ahead

For the EUR

It’s a relatively quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction. While there are no stats, economic forecasts from the EU will provide direction on the day. The forecasts will provide the markets with some idea of what to expect from the ECB near-term.

At the time of writing, the EUR was down by 0.01% to $1.1424.

For the Pound

It’s another particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK for the markets to consider.

At the time of writing, the Pound was up by 0.02% to $1.3538.

Across the Pond

It’s a relatively busy day on the economic calendar. January inflation and weekly jobless claims are due out later today. While jobless claims will provide direction, the inflation figures will be key later today. Another pickup in inflation would point to a more aggressive rate path for the FED.

On Wednesday, the U.S Dollar Spot Index fell by 0.10% to end the day at 95.551.

For the Loonie

It’s also a quiet day ahead. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave market risk sentiment to provide direction.

At the time of writing, the Loonie was down by 0.01% to C$1.2671 against the U.S Dollar.

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