The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar. July industrial production figures are due out in the early part of the day.
With the markets having digested production figures from key member states, today’s data should have a muted impact on the EUR.
On the geopolitical risk front, however, expect Brexit and chatter from Beijing and Washington to influence.
At the time of writing, the EUR was up by 0.03% to $1.1850.
For the Pound
It’s a particularly quiet day ahead of a busy week on the economic calendar. There are no material stats due out to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of Brexit and market risk sentiment,
While Brexit chatter from the weekend was of little use for the bulls, talk of a resumption of COVID-19 vaccine trials was positive.
Over the weekend, the news wires reported that Oxford University is to resume clinical trials on its COVID-19 vaccine. Ultimately, however, with Brexit and economic doom and gloom, any upside would likely be limited.
At the time of writing, the Pound was up by 0.23% to $1.2825.
Across the Pond
It’s also a particularly quiet day ahead for the U.S Dollar. There are no material stats due out of the U.S to provide the greenback with direction
With a lack of stats to consider, chatter on TikTok, U.S and China relations, and Brexit will be key drivers.
The Dollar Spot Index was down by 0.16% to 93.183 at the time of writing.
For the Loonie
It’s another quiet day ahead, with no material stats due out of Canada to provide the Loonie with direction.
A lack of stats will leave the Loonie in the hands of market risk sentiment and crude oil prices. OPEC’s monthly report is due out today. We’ve seen crude oil prices suffer of late as a result of demand concerns.
Negative projections on demand would be negative for the Loonie.
At the time of writing, the Loonie was up by 0.14% to C$1.3160 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.