US Economy

Consumer Sentiment, COVID-19, and Capital Hill Puts the Dollar in Focus

Earlier in the Day:

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

For the Kiwi Dollar

The Business PMI fell from 54.0 to 51.7 in October. In September, the PMI had risen from 50.7 to 54.0.

The Kiwi Dollar moved from 0.68383 to $0.68375 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.10% to $0.6834.

Elsewhere

At the time of writing, the Aussie Dollar was up by 0.01% to $0.7233, with the Japanese Yen up by 0.17% to ¥104.95 against the U.S Dollar.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. Trade data and 2nd estimate GDP numbers for the 3rd quarter are due out for the Eurozone. Finalized October inflation figures for Spain and France are also due out

Barring deviation from prelim figures, however, the stats and September trade data are unlikely to have a material impact.

Away from the economic calendar, chatter from Capitol Hill and updates on Brexit and COVID-19 will continue influence.

At the time of writing, the EUR was up by 0.01% to $1.1807.

For the Pound

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

A lack of stats will leave the Pound in the hands of Brexit and COVID-19 news updates.

At the time of writing, the Pound was down by 0.01% to $1.3117.

Across the Pond

It’s a relatively quiet day ahead for the U.S Dollar. Prelim consumer sentiment and expectation figures for November are due out late in the day. Ahead of the numbers, October wholesale inflation figures are also due out.

Expect the consumer sentiment figure to have the greatest influence on the day.

Away from the economic calendar, chatter from Capitol Hill will continue to influence.

At the time of writing, the Dollar Spot Index was down by 0.04% to 92.929.

For the Loonie

It’s another quiet day on the economic data front. There are no material stats to provide the Loonie with direction on the day.

A lack of stats will continue to leave the Loonie in the hands of market risk sentiment and COVID-19 news updates.

At the time of writing, the Loonie was down by 0.05% to C$1.3147 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.