Service Sector PMIs and ADP Nonfarm Payrolls to Keep the EUR and USD in Focus

Earlier in the Day:

It was a particularly quiet start to the day on the economic calendar this morning. There were no major stats for the markets to consider through the early part of the Asian session.

The Majors

At the time of writing, the Kiwi Dollar was down by 0.09% to $0.6802, while the Japanese Yen was up by 0.01% to ¥116.150 against the U.S Dollar. The Aussie Dollar was flat at $0.7236.

The Day Ahead

For the EUR

It’s a busy day ahead on the economic calendar. Service sector PMIs for Italy and Spain are due out along with finalized PMIs for France, Germany, and the Eurozone. Barring any marked revisions, expect Italy and the Eurozone’s PMIs to be key.

At the time of writing, the EUR was down by 0.01% to $1.1286.

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. The lack of stats will leave the Pound in the hands of market risk sentiment on the day.

At the time of writing, the Pound was down by 0.02% to $1.3527.

Across the Pond

It’s a relatively busy day ahead. ADP nonfarm employment change and finalized services and composite PMIs are due out. Expect any revisions to the services PMI and the ADP numbers to be key.

On Tuesday, the U.S Dollar Spot Index rose by 0.08% to end the day at 96.292.

For the Loonie

It’s a quiet day ahead. Housing sector data are due out that should have a muted impact on the Loonie. Expect crude oil inventories and market risk sentiment to be key on the day.

At the time of writing, the Loonie was up by 0.02% to C$1.2706 against the U.S Dollar.

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