Earlier in the Day:
It was a particularly quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider in the early hours.
The Day Ahead
For the EUR
It’s a relatively busy day ahead on the economic data front, with the German economy back in focus.
Key stats include finalized GDP numbers for the 1st quarter and Germany’s IFO Business Climate Index figures.
Barring any revision to Germany’s GDP numbers, expect the IFO figures to be key. The markets will be looking for a further pickup in business sentiment.
At the time of writing, the EUR was up by 0.09% to $1.2227.
For the Pound
It’s another particularly 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 continue to leave market sentiment towards the economic outlook to provide direction. Following a string of impressive stats, downside for the Pound should, therefore, be limited.
At the time of writing, the Pound was up by 0.09% to $1.4170.
Across the Pond
It’s a relatively quiet day ahead on the calendar. Housing sector data and consumer confidence figure are due out later today.
We can expect plenty of interest in the consumer confidence figures for May. Following an unexpected decline in April, the markets will be looking for a bounce back in May…
At the time of writing, the Dollar Spot Index was down by 0.10% to 89.753.
For the Loonie
It’s a quiet day ahead on the economic data front. There are no material stats due out of Canada.
The lack of stats will continue to leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.02% to C$1.2046 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.