Eurozone Retail Sales and the BoC Business Survey Put the EUR and Loonie in Focus
Earlier in the Day:
It was a quiet start to the week on the economic calendar this morning. There were no material stats for the markets to consider in the early hours.
The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar. February retail sales for the Eurozone are due out later today.
With the ECB looking for consumer spending to support the economic recovery, we can expect some sensitivity to the numbers. Fresh lockdown measures reintroduced across a number of member states in recent weeks, however, could limit the impact of any positive numbers.
Away from the economic calendar, COVID-19 news and progress on the vaccination front will also influence.
At the time of writing, the EUR was down by 0.07% to $1.1891.
For the Pound
It’s a 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 the Pound in the hands of COVID-19 and vaccine news updates.
At the time of writing, the Pound was down by 0.04% to $1.3701.
Across the Pond
It’s also a quiet day ahead on the economic calendar. There are no material stats to provide the Greenback with direction.
The lack of stats will leave the Dollar in the hands of news from Capitol Hill and FOMC member commentary.
At the time of writing, the Dollar Spot Index was up by 0.06% to 92.216.
For the Loonie
It’s a relatively quiet day ahead on the economic calendar. The Bank of Canada’s Business Outlook Survey is due out later today.
With little else for the markets to consider, we can expect plenty of influence from the survey.
Away from the economic calendar, crude oil prices and market sentiment towards demand will also influence.
At the time of writing, the Loonie was down by 0.13% to C$1.2546 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.