It's a relatively busy day on the economic calendar. With inflation worries lingering, the ECB Economic Bulletin will draw plenty of interest ahead of U.S stats.
It’s was a quieter start to the day on the economic calendar this morning. The Aussie Dollar was in action in the early part of the Asian session.
Retail sales and trade data for January were in focus this morning.
In January, retail sales increased by 0.5%, month-on-month, partially reversing a 4.1% slide from December. This was a downward revision from a prelim 0.6% rise.
According to the ABS,
In January, Australia’s trade surplus widened from A$6.785bn to A$10.142bn. Economists had forecast a narrowing to A$6.500bn.
According to the ABS,
The Aussie Dollar moved from $0.77658 to $0.77767 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.04% to $0.7778.
At the time of writing, the Kiwi Dollar was up by 0.07% to $0.7251, while the Japanese Yen was down by 0.05% to ¥107.06 against the U.S Dollar.
It’s another busy day ahead on the economic calendar. Key stats include Eurozone retail sales and unemployment figures for January.
German construction PMI figures for February are also due out but will likely have a muted impact on the EUR.
At the time of writing, the EUR was down by 0.11% to $1.2050.
It’s a relatively quiet day ahead on the economic calendar. February’s construction PMI is due out later this morning.
We don’t expect too much influence on the Pound, however, which will remain in the hands of market risk sentiment.
At the time of writing, the Pound was down by 0.16% to $1.3932.
It’s busier day ahead on the economic calendar. Factory orders and the weekly jobless claims figures will likely have the greatest influence.
Unit labor costs and nonfarm productivity numbers for the 4th quarter are also due out but should have a muted impact on the Dollar.
At the time of writing, the Dollar Spot Index was up by 0.11% to 91.049.
It’s a quiet day ahead. Labor productivity numbers for the 4th quarter are due out later today.
We don’t expect too much influence from the numbers, however.
Market risk sentiment and impact on crude oil prices will remain the key driver ahead of the BoC monetary policy decision next week.
At the time of writing, the Loonie was down by 0.04% to C$1.2660 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.