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Economic Data and the ECB Minutes Put the EUR back in Focus

Bob Mason
·2-min read

Earlier in the Day:

It was a particularly quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider in the early part of the day.

For the Majors

At the time of writing, the Japanese Yen was up by 0.06% to ¥109.78 against the U.S Dollar. The Aussie Dollar was down by 0.05% to $0.7610, while the Kiwi Dollar was up by 0.01% to $0.7014.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. German factory orders for February are due out later this morning.

Later in the day, the ECB monetary policy meeting minutes are also due out. Following the ECB’s promise to ramp up bond purchases to curb increasing borrowing costs, expect any resistance to test support.

Away from the economic calendar, lockdown and vaccine news will also need monitoring.

At the time of writing, the EUR was down by 0.03% to $1.1865.

For the Pound

It’s also a relatively quiet day ahead on the economic calendar. Construction PMI figures for March are due out.

With the market focus on the government’s easing of lockdown plans, however, we don’t expect the PMI to influence.

Away from the economic calendar, the focus will be on news from the government on what lies ahead vis-à-vis reopening the UK economy.

At the time of writing, the Pound was up by 0.03% to $1.3741.

Across the Pond

It’s a relatively quiet day ahead on the economic calendar. Weekly jobless claim figures are due out later today.

We don’t expect too much influence from the numbers, however, with positive market sentiment towards the economy likely to offset any negative numbers.

Away from the economic calendar, any chatter on U.S and China relations will need monitoring.

At the time of writing, the Dollar Spot Index was up by 0.02% to 92.470.

For the Loonie

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out to provide the Loonie with direction.

The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.

At the time of writing, the Loonie was down by 0.09% to C$1.2620 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

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