It's a relatively busy day ahead on the economic calendar, with the EUR and the U.S Dollar in focus.
It was a relatively busy day on the Asian economic calendar this morning. The Aussie Dollar was in action in the early part of the day.
Key stats included business confidence, retail sales, and trade figures out of Australia.
Retail sales fell by 0.5% in December, partially reversing a 1% rise in November. Economists had forecast a 0.2% decline.
According to the ABS,
While down for the month, retail sales rose by 0.5% in the 4th quarter, reversing a 0.1% fall from the 3rd quarter.
Australia’s trade surplus narrowed from A$5.519bn to A$5.223bn in December.
According to the ABS,
The NAB Business Confidence Index held steady at -1 in the 4th quarter. According to the NAB Quarterly Survey,
The Aussie Dollar moved from $0.67516 to $0.67584 upon release of the data. At the time of writing, the Aussie Dollar was up by 0.07% to $0.6751.
At the time of writing, the Japanese Yen was down by 0.05% to ¥109.89 against the U.S Dollar, with the Kiwi Dollar down by 0.06% to $0.6470.
It’s a busy day ahead on the economic calendar. Key stats due out of the Eurozone include December factory orders out of Germany.
We can expect the figures to provide direction ahead of the ECB’s Economic Bulletin and the EU’s economic forecasts.
Both reports will give some more color on the outlook and whether the Eurozone economy did, in fact, bottom out at the turn of the year.
At the time of writing, the EUR was down by 0.02% to $1.0997.
It’s a quiet day ahead on the economic calendar, with no material stats due out of the UK to provide the Pound with direction.
The lack of stats leaves the Pound in the hands of Brexit chatter, which is rarely a positive…
At the time of writing, the Pound was down by 0.15% to $1.2983.
It’s a relatively busy day ahead on the data front.
Key stats due out of the U.S include 4th quarter unit labor costs and nonfarm productivity numbers. The weekly jobless claims figures are also due out later this afternoon.
The numbers will need to be on the positive side to continue supporting the Dollar at current levels.
At the time of writing, the Dollar Spot Index was down by 0.01% to 98.295.
It’s a quiet day ahead on the economic calendar, with no material stats due out of Canada later today.
The lack of stats will leave the Loonie in the hands of risk sentiment and crude oil prices ahead of tomorrow’s employment and Ivey PMI numbers.
The Loonie was down by 0.03% at C$1.3286 against the U.S Dollar, at the time of writing.
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.