It's a busy day ahead on the economic calendar. Private sector PMIs from the UK, the Eurozone, and the U.S will be in focus along with Eurozone consumer confidence,
It was a busy start to the day on the economic calendar this morning. The Kiwi Dollar and the Japanese Yen were in action early this morning.
In the month of February, the trade balance rose from a NZ$647m deficit to a NZ$181m surplus. Year-on-year, the trade surplus narrowed from NZ$2,730m to NZ$2,360m in February.
According to NZ Stats,
The Kiwi Dollar moved from $0.70054 to $0.70076 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.06% to $0.6995.
Private sector PMIs for March were in focus this morning.
In March, the Manufacturing PMI increased from 51.4 to 52.0, with the service PMI rising from 46.3 to 46.5.
According to the prelim March survey,
The Japanese Yen moved from ¥108.597 to ¥108.632 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.01% to ¥108.58 against the U.S Dollar.
At the time of writing, the Aussie Dollar was down by 0.16% to $0.7612.
It’s a busy day ahead on the economic calendar. Prelim private sector PMIs for March are due out for France, Germany, and the Eurozone.
While the focus remains on German manufacturing sector activity, the services PMIs will also draw interest.
Late in the session, flash Eurozone consumer confidence figures will also influence.
Away from the economic calendar, COVID-19 lockdown news will remain factor, however.
At the time of writing, the EUR was down by 0.03% to $1.1845.
It’s a relatively busy day ahead on the economic calendar. Prelim private sector PMI numbers for March are due out.
Expect the service sector figures to have the greatest impact. While the headline number is key, inflation, new business and employment will be other areas of interest.
February inflation figures are also due out but will likely take a back seat to the PMIs.
At the time of writing, the Pound was down by 0.12% to $1.3736.
It’s a busy day ahead on the economic calendar. Core durable goods orders are due out along with prelim private sector PMI numbers for March.
Expect core durable goods and service sector PMI numbers to have the greatest impact on market risk sentiment.
February durable goods orders, are also due out. Barring dire numbers, however, these will likely have a muted impact on the markets.
On the monetary policy front, FED Chair Powell is scheduled to deliver a 2nd day of testimony that will also draw interest.
At the time of writing, the Dollar Spot Index was up by 0.07% to 92.399.
It’s yet another quiet 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 market risk sentiment and crude oil inventories on the day.
At the time of writing, the Loonie was up by 0.05% to C$1.2582 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.