Yahoo Finance Economic Data Puts the EUR and the Dollar in Focus, with the BoE also in Action
Earlier in the Day:
It was a quieter start to the day on the economic calendar this morning. The Aussie Dollar was in action this morning.
For the Aussie Dollar
Trade data was in focus.
In June, Australia’s trade balance widened from A$9.681bn to A$10.496bn. Economists had forecast a widening to A$10.100bn.
According to the ABS,
Goods and services credits increased A$1,489m (4%) to A$43,337m.
General merchandise exports rose by A$1,008m (3%). Non-rural goods exports rose A$709m (2%), with rural goods exports up A$300m (7%).
Non-monetary gold exports jumped A$326m (18%).
Debits rose A$261m (1%) to A$32,840m.
Capital goods imports rose A$479m (7%), with general merchandise imports up A$538m (2%).
Non-monetary gold imports fell A$322m (-36%), with consumption goods imports down A$67m (-1%).
The Aussie Dollar moved from $0.73834 to $0.73842 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.05% to $0.7383.
Elsewhere
At the time of writing, the Japanese Yen was down by 0.17% to ¥109.670 against the U.S Dollar, with the Kiwi Dollar down by 0.06% to $0.7044.
The Day Ahead
For the EUR
It’s a quieter day ahead on the economic data front. The German economy is back in focus, with factory orders for June and July construction PMI figures due out.
Following mixed stats from Germany of late, expect any weak factory order numbers to weigh on the EUR.
From the ECB, the Economic Bulletin will also draw plenty of interest, however. The focus will be on the ECB’s economic outlook as new COVID-19 cases continue to rise globally.
At the time of writing, the EUR was down by 0.01% to $1.1836.
For the Pound
It’s a quiet day ahead on the economic calendar. Construction PMI figures for July are due out later today.
We don’t expect the numbers to have an impact on the Pound, however.
The BoE delivers its August monetary policy decision later in the day, which will be the main event. Following the bullish growth forecasts from the IMF, the markets will be looking out for any hawkish chatter.
At the time of writing, the Pound was up by 0.01% to $1.3890.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar.
Trade data and jobless claims figures are due out later today.
Expect the jobless claims data to have a material impact on the markets ahead of tomorrow’s nonfarm payrolls. Wednesday’s ISM Non-Manufacturing PMI numbers have put an even greater emphasis on labor market conditions.
At the time of writing, the U.S Dollar Spot Index was up by 0.04% at 92.305.
For the Loonie
It’s a relatively quiet day on the economic calendar. Trade data for June will be in focus later today.
Expect Loonie sensitivity to the numbers, with the markets having had little to consider in the current week.
At the time of writing, the Loonie was down by 0.02% to C$1.2542 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
