Earlier in the Day:
It’s was a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar and the Japanese Yen were in action early on.
For the Kiwi Dollar
The Business PMI fell from 58.8 to 50.70 in August. In July, the PMI had risen from 56.3 to 58.8.
The Kiwi Dollar moved from $0.66501 to $0.66507 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.09% to $0.6657.
For the Japanese Yen
The BSI Large Manufacturing Conditions Index rose from -52.3 to 0.10 in the 3rd quarter.
The Japanese Yen moved from ¥106.165 to ¥106.131 upon release of the numbers. At the time of writing, the Japanese Yen was up by 0.01% ¥106.12 against the U.S Dollar.
At the time of writing, the Aussie Dollar was up by 0.18% to $0.7271.
The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar. Finalized August inflation figures for Germany and Spain are in focus later today.
With the markets having already responded to prelim numbers, however, the numbers are unlikely to have a material impact on the EUR.
We would expect the aftermath of the ECB press conference and market sentiment towards the Eurozone economy to be key drivers.
At the time of writing, the EUR was up by 0.17% to $1.1835.
For the Pound
It’s a busy day ahead on the economic calendar. Key stats include GDP, industrial and manufacturing production figures for July. July trade figures are also due out but will likely have a muted impact on the Pound.
While we expect the GDP numbers and manufacturing production, in particular, to influence, Brexit remains a key driver.
At the time of writing, the Pound was down by 0.01% to $1.2804.
Across the Pond
It’s a relatively quiet day ahead for the U.S Dollar. August inflation figures are due out later today.
While we can expect some influence from the numbers ahead of the FOMC policy decision next week, it’s Friday.
U.S President Trump favors Friday messaging, leaving the Dollar exposed to any chatter from the Oval Office and beyond.
The Dollar Spot Index was down by 0.05% to 93.289 at the time of writing.
For the Loonie
It’s a quiet day ahead, with no material stats due out of Canada to provide the Loonie with direction.
A lack of stats will leave the Loonie in the hands of market risk sentiment and crude oil prices.
At the time of writing, the Loonie was up by 0.05% to C$1.3186 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.