Earlier in the Day:
It’s was a quieter start to the day on the economic calendar this morning. The Kiwi Dollar was in action early this morning.
Away from the economic calendar, updates on the U.S stimulus package continued to be an area of focus.
For the Kiwi Dollar
Inflation expectations for 2-years out picked up from 1.24% to 1.43%, partially reversing a fall from 1.93% to 1.24% in the 2nd quarter. Inflation expectations had stood at 1.86% back in the September quarter of 2019.
According to the RBNZ’s survey of expectations,
Inflation expectations for 1-year out picked up from 0.74% to 1.03%, partially reversing a slide from 1.88% to 0.74% in the 2nd quarter.
The Kiwi Dollar moved from $0.66923 to $0.66346 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.15% to $0.6637.
The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar. Key stats include June factory orders from Germany.
Expect anything in line with or better than forecast to deliver EUR support.
At the time of writing, the EUR was up by 0.08% to $1.1873.
For the Pound
It’s a busy day ahead on the economic calendar, with the Bank of England in action later today.
While interest rates are likely to be left unchanged, the BoE could extend the suspension of bank dividend payments.
Economic uncertainty persists as parts of the UK get hit by a 2nd wave of the pandemic. Bailey’s press conference should, therefore, garner plenty of interest.
At the time of writing, the Pound was up by 0.13% to $1.3131.
Across the Pond
It’s a quieter day ahead for the U.S Dollar. The all-important weekly jobless claims are in focus later in the day.
Another rise in claims will test market risk sentiment on the day.
Away from the economic calendar, updates from Capitol Hill on the COVID-19 stimulus package will also influence. The markets are expecting an agreement…
At the time of writing, the Dollar Spot Index was down by 0.10% to 92.775.
For the Loonie
It’s another quiet day ahead on the economic calendar, with no material stats due out 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 up by 0.01% to C$1.3265 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.