U.S Nonfarm Payrolls Put the Greenback in Focus

Earlier in the Day:

It’s was another relatively quiet start to the day on the economic calendar this morning. The Japanese Yen was in action in the early part of the day.

Away from the economic calendar, riskier assets found support following the moves across European and the U.S on Thursday.

Expectations of substantial stimulus, in the wake of the Democrats taking control of the Senate, supported riskier assets.

For the Japanese Yen

Household spending figures were in focus in the early part of the day.

Household spending fell by 1.8% in November, month-on-month, following a 2.1% increase in October. Economists had forecast a 1.3% decline.

Year-on-year, household spending increased by 1.1%, following a 1.9% rise in October. Economists had forecast a 2.5% increase.

The Japanese Yen moved from ¥103.812 to ¥103.810 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.09% to ¥103.90 against the U.S Dollar,

Elsewhere

At the time of writing, the Aussie Dollar was down by 0.21% to $0.7753, with the Kiwi Dollar down by 0.03% to $0.7253.

The Day Ahead:

For the EUR

It’s another busy day ahead on the economic calendar. German industrial production and trade figures are due out along with French consumer spending figures.

Of less influence will be Eurozone unemployment numbers that are due out later in the day.

Away from the economic calendar, COVID-19 news and vaccine updates will also influence. There has been the talk of France having to reintroduce lockdown measures…

At the time of writing, the EUR was down by 0.20% to $1.2247.

For the Pound

It’s another relatively quiet day ahead on the economic calendar. House price figures for December and 3rd quarter labor productivity figures are due out later today.

The numbers are unlikely to have a material impact on the Pound, however.

COVID-19 news and vaccine updates will remain the key area of focus, with the UK in its 3rd lockdown. Good progress towards vaccinating priority groups would ease pressure on the Pound.

At the time of writing, the Pound was down by 0.13% to $1.3550.

Across the Pond

It’s a busy day ahead on the economic calendar. December’s nonfarm payrolls and unemployment rate will be the key drivers later today.

Expect plenty of sensitivity to the numbers.

Away from the economic calendar, COVID-19 and news from Washington will also need monitoring.

At the time of writing, the Dollar Spot Index was up by 0.13% to 89.946.

For the Loonie

It’s a busy day on the economic data front, with unemployment figures in focus.

Away from the economic calendar, COVID-19 news and U.S politics will also influence.

Optimism towards the economic outlook and upward trend in crude oil prices remain Loonie positive.

At the time of writing, the Loonie was up by 0.01% to C$1.2690 against the U.S Dollar.

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