Earlier in the Day
It was a quiet start to the week on the economic calendar this morning. Later this morning economic data from China will be in focus, however.
The Majors
At the time of writing, the Japanese Yen was down by 0.05% to ¥109.58 against the U.S Dollar, with the Kiwi Dollar down by 0.01% to $0.7213. The Aussie Dollar was flat at $0.7739 ahead of trade data from China.
The Day Ahead
For the EUR
It’s a relatively quiet day ahead on the economic data front. German factory orders for April will be in focus later this morning.
Expect the EUR to find support from a continued rise in orders, which would be aligned with the April PMI survey.
With the ECB in action later in the week, we would also expect increased sensitivity to any central bank chatter.
At the time of writing, the EUR was down by 0.02% to $1.2164.
For the Pound
It’s a quiet day ahead on the economic calendar. House price figures for May are due out later today.
We don’t expect the numbers to influence, however.
Following concerns over the impact of new strains of COVID-19 on the UK economy, the UK government’s COVID-19 restriction plans will be key early in the week. Expect the Pound to struggle if there’s a talk of delaying an end to restrictions.
At the time of writing, the Pound was up by 0.01% to $1.4158.
Across the Pond
It’s a particularly quiet day ahead on the economic calendar. There are no material stats to provide the Dollar and the broader markets with direction later today.
The lack of stats will leave the markets in the hands of FOMC member chatter and updates on U.S President Biden’s spending plans.
On Friday, the Dollar Spot Index ended the day down by 0.42% to 90.136.
For the Loonie
It’s also a particularly quiet day ahead on the economic data front. There are no material stats to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day as the markets look ahead to Wednesday’s BoC monetary policy decision.
At the time of writing, the Loonie was up by 0.05% to C$1.2078 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
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