The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar.
German factory orders for December and French nonfarm payrolls for the 4th quarter will be in focus.
With lockdown measures in France expected to weigh on labor market conditions, German factory orders will likely have the greatest impact.
At the end of the year, Germany’s Manufacturing PMI survey for December had reported a continued rise in new orders.
New order growth, reportedly unchanged from November, was among the quickest seen since data collection began in 1996.
This should therefore translate into a further rise in factory orders from November’s 2.3% increase. Economists have forecasted a 1.2% decline, however.
At the time of writing, the EUR was up by 0.01% to $1.1965.
For the Pound
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of COVID-19 news on the day. Expect vaccination rates and infection rates to be the main areas of focus. A fall in infection rates amidst the ongoing vaccination drive would raise hope of an easing of containment measures.
At the time of writing, the Pound was up by 0.08% to $1.3683.
Across the Pond
It’s a busy day ahead on the economic calendar.
January’s nonfarm payroll figures and unemployment rate are due out later today.
With plenty of market sensitivity to U.S labor market numbers, expect today’s figures to garner plenty of interest.
Other stats on the day include average earnings and trade data. We would expect these numbers to have a muted impact on the markets, however.
At the time of writing, the Dollar Spot Index was down by 0.03% to 91.503.
For the Loonie
It’s a busy day on the economic data front.
Key stats include trade data for December and employment figures for January. Expect January’s employment numbers to have the greatest impact on the Loonie.
Ivey PMI numbers for January are also due out late in the day and will likely garner some interest.
With no stats for the markets to have considered from earlier in the week, we can expect Loonie sensitivity to the numbers.
At the time of writing, the Loonie was up by 0.11% to C$1.2813 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.