Economic Data and Brexit Put the Greenback and the Pound in Focus
Earlier in the Day:
economic calendar this morning. There were no material stats to consider in the early part of the day.” data-reactid=”20″>It’s was a quiet start to the day on the economic calendar this morning. There were no material stats to consider in the early part of the day.
On the monetary policy front, the PBoC was in action this morning, however.
With no stats to consider, the markets also responded to the FOMC meeting minutes from overnight.
Out of China
The PBoC left the 3-year loan prime rate unchanged at 3.85% and the 5-year LPR unchanged at 4.65%. This was in line with expectations and with recent forward guidance from the PBoC on monetary policy.
Aussie Dollar was down by 0.19% to $0.7168.” data-reactid=”29″>At the time of writing, the Aussie Dollar was down by 0.19% to $0.7168.
Elsewhere
Japanese Yen was down by 0.03% ¥106.15 against the U.S Dollar, with the Kiwi Dollar down by 0.12% to $0.6551.” data-reactid=”31″>At the time of writing, the Japanese Yen was down by 0.03% ¥106.15 against the U.S Dollar, with the Kiwi Dollar down by 0.12% to $0.6551.
The Day Ahead:
For the EUR
economic calendar. Key stats include July wholesale inflation figures from Germany. Following a 0.40% decline in June, the markets will be looking for a pickup in the producer price index to support the improved sentiment towards demand.” data-reactid=”34″>It’s a relatively quiet day ahead on the economic calendar. Key stats include July wholesale inflation figures from Germany. Following a 0.40% decline in June, the markets will be looking for a pickup in the producer price index to support the improved sentiment towards demand.
Later in the day, however, the ECB’s monetary policy meeting minutes will likely be the key driver on the day.
Ahead of the last meeting, there had been news of disagreements on how to support the economic recovery. Expect any details to influence…
EUR was down by 0.03% to $1.1835.” data-reactid=”37″>At the time of writing, the EUR was down by 0.03% to $1.1835.
For the Pound
economic calendar. August’s CBI industrial Trend Orders are due out later today.” data-reactid=”39″>It’s a relatively quiet day ahead on the economic calendar. August’s CBI industrial Trend Orders are due out later today.
With the markets having had little to consider in the week, expect the numbers to influence.
Away from the economic calendar, COVID-19 and Brexit news updates will also need monitoring.
Pound was down by 0.03% to $1.3094.” data-reactid=”42″>At the time of writing, the Pound was down by 0.03% to $1.3094.
Across the Pond
It’s a relatively busy day ahead for the U.S Dollar. Key stats include the weekly jobless claims and August’s Philly FED Manufacturing Index numbers.
Expect plenty of influence on the numbers. While the Philly FED figures will draw interest, the weekly jobless claims will need to avoid a spike.
Away from the economic calendar, updates on the COVID-19 stimulus package and any further moves against China will also influence.
Dollar Spot Index was up by 0.19% to 93.067.” data-reactid=”47″>At the time of writing, the Dollar Spot Index was up by 0.19% to 93.067.
For the Loonie
It’s a particularly quiet day on the economic data front, with no material stats to provide the Loonie with direction.
A lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
Loonie was down by 0.10% to C$1.3229 against the U.S Dollar.” data-reactid=”51″>At the time of writing, the Loonie was down by 0.10% to C$1.3229 against the U.S Dollar.
economic calendar.” data-reactid=”52″>For a look at all of today’s economic events, check out our economic calendar.
article was originally posted on FX Empire” data-reactid=”53″>This article was originally posted on FX Empire
