The ECB and U.S Wholesale Inflation and Jobless Claims Keep the EUR and USD in Focus
Earlier in the Day:
It was 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
In November, building consents rose by 0.6%, partially reversing a 2.1% decline from October.
According to NZ Stats,
- A record 48,522 new homes were consented in the year ended November 2021.
- Compared with year ended November 2020, consents were up by 26%.
- In the month of November, 4,688 new homes were consented, which was the highest monthly number on record.
The Kiwi Dollar moved from $0.68941 to $0.68 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.06% to $0.6846.
The Day Ahead
For the EUR
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction. From the ECB, however, the ECB Economic Bulletin and member chatter will draw interest. ECB members De Guindos, Hakkarainen, and Elderson are scheduled to speak.
The big question remains whether the ECB will continue to stand by its transitory view on inflation.
At the time of writing, the EUR was flat at $1.1442.
For the Pound
It’s yet another particularly quiet day ahead on the economic calendar. There are no material stats from the UK to provide the Pound with direction later today.
At the time of writing, the Pound was up by 0.04% to $1.3705.
Across the Pond
It’s a relatively busy day ahead, with December wholesale inflation and jobless claims figures due out later today. Both sets of numbers will draw interest, following the Dollar’s stumble on Wednesday.
On Wednesday, the U.S Dollar Spot Index slid by 0.65% to 94.999.
For the Loonie
It’s another quiet day ahead. There are no material stats from Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment on the day.
At the time of writing, the Loonie was up by 0.02% to C$1.2506 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.