Retail Sales Puts the Pound and the Loonie in the Spotlight
Earlier in the Day:
It was a relatively quiet start to the day on the economic calendar this morning. Inflation figures for Japan were in focus in the early part of the Asian session.
For the Japanese Yen
Japan’s annual rate of core inflation held steady at 0.1% in October, which was in line with forecasts.
The Day Ahead
For the EUR
It’s a relatively quiet day ahead on the economic calendar. German wholesale inflation figures for October will be in focus.
While ECB President Lagarde has looked to assure the markets of status quo, another spike would test the transitory theory.
On the monetary policy front, ECB President Lagarde is also scheduled to speak later in the day.
At the time of writing, the EUR was up by 0.01% to $1.1372.
For the Pound
It’s a busy day ahead on the economic calendar.
Retail sales figures for October will be in focus later this morning.
Following the inflation figures from Wednesday, expect plenty of impact on the Pound.
At the time of writing, the Pound was up by 0.04% to $1.3499.
Across the Pond
It’s a quiet day ahead on the economic calendar.
Economic data is limited to housing sector data that should have a muted impact on the Dollar.
Expect FOMC member chatter to influence, however.
FOMC members Waller and Clarida are scheduled to speak on the day.
On Thursday, the U.S Dollar Spot Index fell by 0.30% to end the day at 95.544.
For the Loonie
It’s a busier day ahead, with housing sector data and retail sales in focus.
Expect the retail sales figures to be key.
Away from the economic calendar, expect crude oil prices to also provide direction, however.
At the time of writing, the Loonie was up by 0.01% to C$1.2601 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.