Prelim Private Sector PMIs Put the EUR, the Pound, and the Greenback in Focus
Earlier in the Day:
It’s a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action in the early hours.
For the Kiwi Dollar
Retail sales fell by 8.1% in the 3rd quarter, quarter-on-quarter, following a 3.3% increase in the previous quarter.
According to NZ Stats,
- 12 of the 15 industries had lower sales volumes in the quarter compared with the June 2021 quarter.
- Food and beverage sales fell by 19%, with motor vehicle and parts retailing down 12%.
- Department store sales tumbled by 24%, with hardware, building, and garden supplies down 15%.
- Supermarket and grocery stores had the largest rise, however, up 7.5%.
The Kiwi Dollar moved from $0.69559 to $0.69513 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.07% to $0.6953.
The Day Ahead
For the EUR
It’s a busy day ahead on the economic calendar. November private sector PMIs for France, Germany, and the Eurozone will be in focus.
While the stats will draw plenty of interest, however, any more negative COVID-19 news updates would likely overshadow positive data.
At the time of writing, the EUR was up by 0.02% to $1.1239.
For the Pound
It’s a relatively busy day ahead on the economic calendar. Prelim November private sector PMIs will be in focus later this morning.
Expect the services PMI to be the key driver. With inflationary pressures on the rise, a marked pickup in service sector activity would support a more hawkish BoE.
At the time of writing, the Pound was down by 0.02% to $1.3394.
Across the Pond
It’s also a relatively busy day ahead on the economic calendar. Prelim November private sector PMIs will be in focus later in the day.
We can also expect the services PMI to have the greatest impact on the Dollar and market risk sentiment,
On Monday, the U.S Dollar Spot Index rose by 0.49% to end the day at 96,497.
For the Loonie
It’s a particularly quiet day ahead, with no major stats to consider.
The lack of stats will leave the Loonie in the hands of private sector PMIs and impact on crude oil prices.
At the time of writing, the Loonie was down by 0.03% to C$1.2704 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.