Earlier in the Day:
It was a relatively quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action early this morning.
For the Kiwi Dollar
Building consents were in focus this morning.
In March, building consents jumped by 17.9% following a revised 19.3% slide in February.
According to NZ Stats,
- A record 41,028 new homes had been consented in the year ended March 2021.
- In the month of March, a monthly record 4,128 new homes were consented.
The Kiwi Dollar moved from $0.72178 to $0.72169 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.01% to $0.7217.
The Day Ahead:
For the EUR
It’s a quieter day ahead on the economic data front. German factory orders and Eurozone retail sales figures will be in focus later today.
While we will expect some EUR sensitivity to the retail sales figures, German factory orders will likely be the key driver.
At the time of writing, the EUR was down by 0.02% to $1.2003.
For the Pound
It’s a relatively quiet day ahead on the economic calendar. Finalized services and composite PMI figures are due out for the UK.
Expect any revisions to the services PMI to influence ahead of the Bank of England monetary policy decision later in the day.
With the markets expecting the BoE to stand pat, any dissent in the ranks and hawkish chatter would give the Pound a boost.
At the time of writing, the Pound was flat at $1.3905.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar. Unit labor costs and nonfarm productivity figures for the 1st quarter are in focus later today along with jobless claims figures.
Expect the weekly jobless claims figures to be the key driver. The markets will be looking for a fall to sub-500k levels ahead of tomorrow’s NFP numbers.
At the time of writing, the Dollar Spot Index was up by 0.01% to 91.316.
For the Loonie
It’s another quiet day ahead on the economic calendar. There are no material stats due out of Canada 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 down by 0.01% to C$1.2268 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.