Earlier in the Day:
economic calendar this morning. The Kiwi Dollar and economic data from China were in focus in the early part of the day.” data-reactid=”20″>It’s was a relatively busy start to the day on the economic calendar this morning. The Kiwi Dollar and economic data from China were in focus in the early part of the day.
Away from the economic calendar, updates on the U.S stimulus package continued to be an area of focus as the markets also responded to Friday’s U.S non-farm payroll numbers.
On the geopolitical risk front, rising tension between the U.S and China was also of influence.
For the Kiwi Dollar
The ANZ Business Confidence Index fell from -34.4 to 42.4 in July.
ANZ Report,” data-reactid=”29″>According to the latest ANZ Report,
- A net 17% of firms expect weaker economic activity in their own business, falling from -8.9% in July.
- Export intensions fell from -12.7% to -18.50%, with investment intentions falling from -6.7% to -15.1%.
- Profit expectations weakened from-26.6% to -32.2%, with employment intentions declining from -15.1% to -21.4%.
Kiwi Dollar was up by 0.02% to $0.6606.” data-reactid=”34″>The Kiwi Dollar moved from $0 66029 to $0.66012 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.02% to $0.6606.
Out of China
China’s annual rate of inflation picked up from 2.5% to 2.7% in July, coming in ahead of a 2.6% forecast. Month-on-month, consumer prices rose by 0.6%, following a 0.1% decline in June. Economists had forecast a 0.4% rise.
Year-on-year, the producer price index fell by 2.4%, following a 3% decline in June. Economists had forecast a 2.5% slide.
Aussie Dollar was up by 0.15% to $0.7168.” data-reactid=”38″>The Aussie Dollar moved from $0.71620 to $0.71673 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.15% to $0.7168.
Elsewhere
Japanese Yen was up by 0.13% to ¥105.78 against the U.S Dollar.” data-reactid=”40″>At the time of writing, the Japanese Yen was up by 0.13% to ¥105.78 against the U.S Dollar.
The Day Ahead:
For the EUR
economic calendar. There are no material stats to provide the EUR with direction.” data-reactid=”43″>It’s a quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction.
A lack of stats will leave the EUR in the hands of market risk sentiment on the day. The U.S stimulus package and tensions between the U.S and China will remain key drivers.
EUR was up by 0.07% to $1.1795.” data-reactid=”45″>At the time of writing, the EUR was up by 0.07% to $1.1795.
For the Pound
economic calendar, with no material stats due out to provide direction.” data-reactid=”47″>It’s also a quiet day ahead on the economic calendar, with no material stats due out to provide direction.
Updates on Brexit and market risk sentiment will be the key drivers for the Pound.
Pound was up by 0.16% to $1.3073.” data-reactid=”49″>At the time of writing, the Pound was up by 0.16% to $1.3073.
Across the Pond
It’s a relatively quiet day ahead for the U.S Dollar. Key stats include June’s JOLT’s job openings.
While we will expect some influence from the numbers, chatter from the Oval Office will need monitoring.
Dollar Spot Index was up by 0.06% to 92.848.” data-reactid=”53″>At the time of writing, the Dollar Spot Index was up by 0.06% to 92.848.
For the Loonie
After a quiet day ahead, with no material stats to provide the Loonie with direction.
Any retaliatory moves by Canada and China against Trump’s latest actions would be a test for crude oil and the Loonie.
Positive economic data from last week, however, from the U.S and the EU should limit any major downside.
Loonie was up by 0.07% to C$1.3374 against the U.S Dollar.” data-reactid=”58″>At the time of writing, the Loonie was up by 0.07% to C$1.3374 against the U.S Dollar.
economic calendar.” data-reactid=”59″>For a look at all of today’s economic events, check out our economic calendar.
article was originally posted on FX Empire” data-reactid=”60″>This article was originally posted on FX Empire
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