A Quiet Economic Calendar Leaves the EUR and Dollar in Focus
Earlier in the Day:
It was a relatively quiet start to the day on the economic calendar this morning. Inflation figures from China were in focus this morning.
From China
In July, the annual rate of inflation softened from 1.1% to 1.0%, versus a forecasted annual rate of inflation of 0.9%. Month-on-month, consumer prices rose by a 0.3%, however, partially reversing a 0.4% decline in June. Economists had forecast a 0.3% increase.
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Wholesale inflationary pressures picked up, however, with the annual rate of wholesale inflation rising from 8.8% to 9.0%. Economists had forecast a rate of 8.7%.
The Aussie Dollar moved from $0.73366 to $0.73422 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.01% to $0.7355.
Elsewhere
At the time of writing, the Japanese Yen was up 0.02% to ¥110.230 against the U.S Dollar, with the Kiwi Dollar up by 0.10% to $0.7017.
The Day Ahead
For the EUR
It’s a quieter day ahead on the economic data front. The German economy is back in focus, with trade for June due out.
With little else for the markets to consider, we can expect EUR sensitivity to the numbers and to foreign demand in particular.
At the time of writing, the EUR was down by 0.03% to $1.1758.
For the Pound
It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.
At the time of writing, the Pound was down by 0.04% to $1.3867.
Across the Pond
It’s a quiet day ahead on the economic calendar.
JOLTs job openings for June are due out later today. Following Friday’s NFP numbers, however, today’s stats are unlikely to have a material impact on the Dollar or the broader markets.
Any FOMC member chatter, however, would draw plenty of interest.
At the time of writing, the U.S Dollar Spot Index was up by 0.02% to 92.823.
For the Loonie
It’s a particularly quiet day on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.07% to C$1.2563 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.