The Day Ahead:
For the EUR
It’s a particularly quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction.
A lack of stats will leave updates on Brexit talks and COVID-19 to influence on the day.
On the monetary policy front, ECB President Lagarde is scheduled to speak late in the day. Any details of what to expect next month would provide the EUR with direction.
At the time of writing, the EUR was up by 0.08% to $1.1861.
For the Pound
It’s also a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
A lack of stats will also leave the Pound in the hands of Brexit and COVID-19 news updates.
On the monetary policy front, BoE Governor Bailey is due to speak later today. Any guidance on monetary policy will influence.
At the time of writing, the Pound was up by 0.11% to $1.3214.
Across the Pond
It’s a relatively busy day ahead for the U.S Dollar. October retail sales and industrial production, and September business inventory numbers are due out.
Expect October’s retail sales figures to be the key driver on the day, with consumption key to the economic recovery. Dire labor market conditions and concerns over the economic outlook are likely to pin back spending near term.
Away from the economic calendar, chatter from Capitol Hill, and COVID-19 news updates will continue to influence.
At the time of writing, the Dollar Spot Index was down by 0.17% to 92.486.
For the Loonie
It’s a quiet day on the economic data front. Wholesale sales and foreign securities purchase figures for September are due out. Barring particularly dire numbers, however, the stats are unlikely to have a material impact on the Loonie.
Market risk sentiment and COVID-19 news updates will remain the key drivers on the day.
At the time of writing, the Loonie was up by 0.02% to C$1.3072 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.