It’s a quiet day ahead on the economic calendar. The lack of stats will leave U.S jobless claims, Capitol Hill, and the IEA, and OPEC’s monthly reports in focus.
Earlier in the Day:
It’s was a quieter start to the Day on the economic calendar this morning, with the China and Japan markets closed. Ahead of the Asian open, the Kiwi Dollar was in action, with economic data from the UK also in focus.
For the Kiwi Dollar
In January, electronic card retail sales fell by 0.4%, month-on-month. In December, electronic card retail sales had declined by 0.6%.
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According to NZ Stats,
- Spending on durables rose by 2.1%, with motor vehicle (excl. fuel) sales rising by 1.7% in the month.
- Apparel sales fell by 2.0%, however, with spending on consumables declining by 1.3%.
- Spending on fuel fell by a modest 0.3% in the month.
The Kiwi Dollar moved from $0.72124 to $0.72153 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.12% to $0.7207.
The Day Ahead:
For the EUR
It’s a particularly quiet day ahead on the economic calendar.
There are no material stats due out of the Eurozone to provide the EUR with direction.
The lack of stats will leave the EUR in the hands of stimulus talk and sentiment towards the economic outlook.
Expect any surprise speedbumps on Capitol Hill to deliver a relief package to be EUR negative.
At the time of writing, the EUR was down by 0.01% to $1.2117.
For the Pound
It’s another quiet day ahead on the economic calendar, with no material stats due out of the UK.
The lack of stats will continue to leave the Pound in the hands of market risk sentiment.
Earlier in the day, house price figures were in focus.
In January, the RICS House Price Balance fell from a revised 63% to 50%. The numbers had a muted impact on the Pound, however, with the markets less focused on the real estate sector at present.
At the time of writing, the Pound was down by 0.05% to $1.3827.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar. U.S jobless claims are in focus later today.
With plenty of focus on labor market conditions, expect the numbers to influence market risk sentiment on the day.
Away from the economic calendar, chatter from Capitol Hill will continue to be a key driver.
At the time of writing, the Dollar Spot Index was up by 0.10% to 90.465.
For the Loonie
It’s another quiet day on the economic data front, with no material stats to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of the IEA and OPEC’s monthly reports and market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.06% to C$1.2708 against the U.S Dollar.