The Day Ahead:
For the EUR
It’s a relatively quiet day ahead on the economic calendar. Key stats include jobseeker figures out of France, which will likely have a muted impact on the EUR.
The markets will be looking for further updates on COVID-19 and Brexit to provide direction on the day.
While Brexit is a key influencer, the reintroduction of lockdown measures and an upward trend in new COVID-19 cases remains EUR negative.
At the time of writing, the EUR was up by 0.09% to $1.1821.
For the Pound
It’s a quiet day ahead on the economic calendar, with no material stats to provide the Pound with direction.
The lack of stats will continue to leave the Pound squarely in the hands of Brexit chatter. Hopes are of Macron to shift position on UK fisheries, which would support a Brexit trade deal.
At the time of writing, the Pound was up by 0.03% to $1.3028.
Across the Pond
It’s a relatively busy day ahead for the U.S Dollar.
Key stats include September durable goods orders and October’s consumer confidence figures.
Expect both sets of numbers to influence risk sentiment.
Away from the economic calendar, U.S politics and COVID-19 will also need monitoring throughout the day.
At the time of writing, the Dollar Spot Index was down by 0.07% to 92.980.
For the Loonie
It’s another particularly 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 U.S politics and COVID-19 ahead of tomorrow’s BoC monetary policy decision.
While the markets expect the BoC to stand pat, a 2nd wave of the global COVID-19 pandemic could deliver a more dovish outlook. A reintroduction of lockdown measures is expected to weigh on crude oil prices and ultimately the Loonie.
At the time of writing, the Loonie was up by 0.11% to C$1.3197 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.