The Day Ahead:
For the EUR
It’s a particularly busy day ahead on the economic calendar.
Key stats include 4th quarter GDP figures for France, Germany, and Spain. With lockdown measures extending into the 1st quarter, weaker than expected figures could test market optimism towards any near-term economic recovery.
French consumer spending and German unemployment figures will also influence on the day.
Other stats include prelim Spanish inflation figures for January that will likely have a muted impact on the EUR.
At the time of writing, the EUR was down by 0.09% to $1.2111.
For the Pound
It’s yet 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 news and any plans on easing lockdown measures. With more virulent strains of the COVID-19 virus hitting the UK, however, it may take some time for the economy to fully reopen.
At the time of writing, the Pound was down by 0.02% to $1.3718.
Across the Pond
It’s another busy day ahead on the economic calendar. December inflation and personal spending figures are due out later today.
Expect personal spending figures to draw plenty of interest.
Other stats include Chicago PMI, pending home sales, and finalized Michigan Consumer Sentiment figures for January.
Barring particularly dire numbers, however, these stats should have a muted impact on market risk sentiment.
Away from the economic calendar, chatter from Capitol Hill and COVID-19 updates will also remain in focus.
At the time of writing, the Dollar Spot Index was up by 0.22% to 90.657.
For the Loonie
It’s a relatively quiet day on the economic data front. GDP and RMPI figures are due out later today.
Expect GDP figures for November to be the key driver.
Away from the economic calendar, expect stimulus talk and COVID-19 news to also influence.
At the time of writing, the Loonie was flat at C$1.2830 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.