Brexit and U.S Stimulus Updates Put the Pound and the Greenback in Focus

by Warrior2

Earlier in the Day:

It’s was a quiet start to the week on the economic calendar this morning. The Kiwi Dollar was in action early on.

For the Kiwi Dollar

The Business PMI rose from 51.7 to 55.3 in November. In October, the PMI had fallen from 54.0 to 51.7.Advertisement

The Kiwi Dollar moved from $0.70970 to $0.70991 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.06% to $0.7093.

Elsewhere

At the time of writing, the Japanese Yen was up by 0.04% to ¥104.20 against the U.S Dollar, while the Aussie Dollar was down by 0.15% to $0.7524.Advertisement

The Day Ahead:

For the EUR

It’s a quiet day ahead on the economic calendar. Finalized November inflation figures for Germany and Spain are due out later today.

The numbers are unlikely to have a material impact on the EUR, however.

Away from the economic calendar, Brexit will remain a key driver on the day, with day 2 of the EU Summit also likely to draw attention.

With foreign policy on the docket, Brexit may well be a talking point, while not on the Summit agenda.

At the time of writing, the EUR was up by 0.03% to $1.2142.

For the Pound

It’s a quiet day ahead on the economic calendar. There are no material stats to provide the Pound with direction.

On the monetary policy front, BoE governor Bailey is scheduled to speak and could move the dial later today. With the BoE in action next week, any talk of negative rates would test support for the Pound.

With the Sunday Brexit deadline looming, however, updates from Brexit talks will remain the key driver on the day.

At the time of writing, the Pound was up by 0.05% to $1.3302.

Across the Pond

It’s a relatively busy day ahead on the economic calendar. November wholesale inflation and prelim December consumer sentiment figures are due out.

While the wholesale inflation numbers will draw interest, the consumer sentiment figures will likely garner greater interest.

Away from the economic calendar, COVID-19 news and chatter from Capitol Hill will continue to influence.

The Dollar Spot Index fell by 0.29% to 90.824 on Thursday.

For the Loonie

It’s another quiet day ahead on the economic data front. There are no material stats due out to provide the Loonie with direction. The lack of stats will continue to leave the Loonie in the hands of COVID-19 news updates and chatter from Capitol Hill.

At the time of writing, the Loonie was down by 0.03% to C$1.2743 against the U.S Dollar.

You may also like

Leave a Comment