The Day Ahead:
For the EUR
It’s a busy day ahead on the economic calendar. ZEW Economic Sentiment figures for Germany and the Eurozone are due out for December.
Germany’s sentiment figures will likely have the greatest impact on the EUR.
French nonfarm payroll figures and finalized 3rd quarter GDP numbers for the Eurozone are also due out. We would expect the numbers to have a muted impact on the EUR, however.
Away from the economic calendar, Brexit news updates and chatter from Capitol Hill will also continue to influence.
At the time of writing, the EUR was up by 0.01% to $1.2110.
For the Pound
It’s a quiet day ahead on the economic calendar. There are no material stats due out to provide the Pound with direction.
The lack of stats will continue to leave the Pound in the hands of Brexit updates. It will be all eyes on Brussels as the British PM and EU President attempt to break the deadlock.
Earlier in the day, the BRC Retail Sales Monitor showed a 7.7% rise in sales, year-on-year, in November. In October, sales had risen by 5.2%. The impact on the Pound was muted, however, with Brexit in focus.
At the time of writing, the Pound was down by 0.14% to $1.3361.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar. 3rd quarter nonfarm productivity and unit labor costs are due out.
Expect the numbers to have a muted impact on the Greenback and market risk sentiment, however.
The markets have moved on from the 3rd quarter. Progress towards a COVID-19 stimulus package and COVID-19 vaccine updates will remain the key drivers.
From the EU, any breakdown in Brexit talks would support demand for the U.S Dollar, however.
At the time of writing, the Dollar Spot Index was up by 0.10% to 90.879.
For the Loonie
It’s a quiet day on the economic data front. There are no material stats due out of Canada ahead of tomorrow’s Bank of Canada monetary policy decision.
The lack of stats will leave the Loonie in the hands of COVID-19 news and chatter from Capitol Hill.
At the time of writing, the Loonie was up by 0.02% to C$1.2795 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.