The Day Ahead:
For the EUR
It’s a busy day ahead on the economic calendar. Prelim January private sector PMI figures for France, Germany, and the Eurozone are due out later today.
While Germany’s manufacturing and the Eurozone’s PMI will be key drivers, any weak numbers would test support for the EUR.
With lockdown measures continuing into January, service sector activity will likely take a hit. To what extent and whether the manufacturing sector is also affected remains to be seen…
Away from the economic calendar, COVID-19 vaccine news along with the latest COVID-19 figures will provide direction.
At the time of writing, the EUR was up by 0.02% to $1.2167.
For the Pound
It’s a busy day ahead on the economic calendar. December retail sales and January prelim private sector PMI figures are due out today.
Expect the retail sales and services PMI to be the key drivers, with lockdown measures in place.
At the time of writing, the Pound was down by 0.06% to $1.3725.
Across the Pond
It’s a relatively busy day ahead on the economic calendar. Key stats include private sector PMI figures for January and December existing home sales figures.
Expect January’s prelim services PMI to be the key driver.
Away from the economic calendar, policy decisions from the Oval Office together with COVID-19 news updates will also influence.
At the time of writing, the Dollar Spot Index was down by 0.01% to 90.124.
For the Loonie
It’s a relatively quiet day on the economic data front. November retail sales figures are due out of Canada later today.
While we can expect some Loonie sensitivity to the numbers, direction on the day will be hinged on vaccination rates and new COVID-19 cases.
Expect crude oil inventory figures to also influence following the disappointing API numbers.
At the time of writing, the Loonie was down by 0.12% to C$1.2652 against the U.S Dollar.