Yahoo Finance A Busier Economic Calendar and the ECB Put the Greenback and the EUR in the Spotlight
Earlier in the Day:
It was a quieter start to the day on the economic calendar this morning. The Japanese in action in the early hours. Later this morning, the Bank of Japan will also deliver its first policy decision of the quarter. No moves are expected, however.
For Japanese Yen
According to the Ministry of Economy, Trade and Industry, retail sales fell by 0.60%, year-on-year, in September. In August, retail sales had been down by 3.2%.
The Japanese Yen moved from ¥113.765 to ¥113.797 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.04% to ¥113.790 against the U.S Dollar.
Elsewhere
At the time of writing, the Kiwi Dollar was down by 0.11% to $0.7160, with the Aussie Dollar down by 0.29% to $0.7495.
The Day Ahead
For the EUR
It’s a busy day ahead on the economic calendar. On the economic data front, German unemployment and inflation figures will be in focus.
While we can expect plenty of interest in the numbers, the ECB monetary policy decision and press conference will be the key drivers.
The markets will be looking for more than just a shift in the asset purchasing program. With inflationary pressures persisting, the markets will be looking for the ECB’s economic outlook and outlook on interest rates.
At the time of writing, the EUR was down by 0.09% to $1.1593.
For the Pound
It’s another quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of market risk sentiment on the day.
At the time of writing, the Pound was down by 0.12% to $1.3729.
Across the Pond
It’s a busy day ahead. Weekly jobless claims and 3rd quarter GDP numbers will be in focus.
Expect both numbers to draw plenty of interest. GDP numbers will need to impress, however, to support the more hawkish outlook on FED monetary policy.
At the time of writing, the U.S Dollar Spot Index was up by 0.09% to 93.885.
For the Loonie
It’s a quiet day ahead for the Loonie, with no material stats to provide direction.
There are no material stats for the markets to consider.
The lack of stats will leave the Loonie in the hands of market risk sentiment and crude oil prices on the day.
At the time of writing, the Loonie was down by 0.11% to C$1.2372 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
