The Day Ahead:
For the EUR
It’s a quiet day ahead on the economic calendar. Prelim German inflation figures for January are due out later today.
Barring another marked decline, however, we don’t expect the numbers to have an impact on the EUR.
The lack of stats will leave the EUR in the hands of COVID-19 news and sentiment towards the economic recovery.
At the time of writing, the EUR was down by 0.17% to $1.2090.
For the Pound
It’s another particularly quiet day ahead on the economic calendar. There are no material stats to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of COVID-19 vaccination rates and updates vis-à-vis the new strains of the virus.
At the time of writing, the Pound was down by 0.15% to $1.3667.
Across the Pond
It’s a busy day ahead on the economic calendar. 4th quarter GDP figures are due out along with the weekly jobless claim figures.
Expect both sets of numbers to influence. A marked rise in initial jobless claims, however, would likely overshadow any better-than-expected GDP numbers.
Other stats due out include December trade data and housing sector figures that should have a muted impact on the Dollar.
Away from the economic calendar, chatter from Capitol Hill and COVID-19 updates will also remain in focus, however.
At the time of writing, the Dollar Spot Index was up by 0.11% to 90.750.
For the Loonie
It’s a relatively quiet day on the economic data front. Building permit figures for December are due out late in the day.
We don’t expect the Loonie to respond to the numbers, however.
COVID-19 news will likely have the final say on crude oil prices and the Loonie on the day.
At the time of writing, the Loonie was down by 0.23% to C$1.2829 against the U.S Dollar.