Economic Data Puts the Loonie, the Pound, and the EUR in Focus

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. German wholesale inflation and Eurozone consumer confidence figures are due out later today.

Expect the consumer confidence figures for the Eurozone to have the greatest impact. With the EU struggling to contain the COVID-19 pandemic, a slide in confidence would add further downside risks to the economic outlook.

Away from the economic calendar, Brexit, COVID-19, and chatter from Capitol Hill will also provide direction on the day.

At the time of writing, the EUR was flat at $1.1875.

For the Pound

It’s a busier day ahead on the economic calendar. October retail sales figures are due out later this morning.

Positive numbers may well have a muted impact on the Pound, however. The British government had to reintroduce lockdown measures at the start of November, which paints a gloomy picture for the quarter.

Away from the economic calendar, Brexit will continue to be a key area of focus.

At the time of writing, the Pound was down by 0.05% to $1.3255.

Across the Pond

It’s a quiet day ahead for the U.S Dollar. There are no material stats to provide the Dollar with direction on the day.

The lack of stats will leave COVID-19 news and any stimulus package news in focus.

At the time of writing, the Dollar Spot Index was down by 0.02% to 92.294.

For the Loonie

It’s a relatively busy day on the economic data front. October house price and September retail sales figures are due out.

Expect the retail sales figures to have the greatest impact on the economic data front.

Away from the economic calendar, however, a continued spike in new COVID-19 cases will test support for riskier assets on the day.

At the time of writing, the Loonie was down by 0.04% to C$1.3078 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.