The Day Ahead:
For the EUR
It’s a relatively busy day ahead on the economic calendar. Prelim November inflation figures for Spain, Italy, and Germany are due out later today.
Barring particularly dire numbers, however, the stats should have a muted impact on the EUR. Deflationary pressures are expected to build as a result of the COVID-19 2nd wave. With the ECB preparing to deliver further easing next month, today’s stats are unlikely to shift the ECB’s position.
Away from the economic calendar, Brexit and COVID-19 news will continue to influence.
At the time of writing, the EUR was up by 0.08% to $1.1972.
For the Pound
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out, leaving the Pound in the hands of Brexit and market risk sentiment.
Brexit negotiations resumed on the weekend. Expect plenty of influence from updates and chatter throughout the day.
At the time of writing, the Pound was up by 0.17% to $1.3333.
Across the Pond
It’s a relatively quiet day ahead for the U.S Dollar. Chicago’s PMI for November and pending home sales figures for October are due out later today.
Following the better than expected prelim November private sector PMIs last week, the numbers would need to be dire to support the Dollar.
Away from the economic calendar, chatter from Capitol Hill will need monitoring. Stimulus talk and COVID-19 containment plans will be key drivers.
At the time of writing, the Dollar Spot Index was down by 0.11% to 91.693.
For the Loonie
It’s a quiet day on the economic data front. There are no material stats to provide the Loonie with direction.
A lack of stats will leave the Loonie in the hands of COVID-19 news updates and any U.S stimulus chatter from Capitol Hill.
At the time of writing, the Loonie was up by 0.02% to C$1.2986 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.