The ECB, the EU Summit and Capitol Hill Put the EUR, the Pound, and the USD in Focus

The Day Ahead:

For the EUR

It’s a quiet but important day ahead on the economic calendar. While there are no material stats due out to provide the EUR with direction, the ECB is in action later today.

The promise of support has been made, as the Eurozone economy struggles amidst the 2^nd wave of the COVID-19 pandemic.

With the markets expecting further easing, the ECB Press Conference will garner plenty of interest.

Away from the economic calendar, COVID-19 and Brexit news updates will also be in focus.

At the time of writing, the EUR was up by 0.01% to $1.2082.

For the Pound

It’s a busy day ahead on the economic calendar. Key stats include October industrial and manufacturing production, trade, and GDP figures. Expect the manufacturing production and GDP figures to have the greatest impact.

With the EU Summit due to take place later today, however, Brexit will be the main area of focus on the day. A lack of concrete progress from Wednesday’s meeting weighed on the Pound early on.

At the time of writing, the Pound was down by 0.10% to $1.3385.

Across the Pond

It’s a relatively busy day ahead on the economic calendar. November inflation and the weekly jobless claims figures are due out.

While the inflation numbers will draw interest, expect the weekly claims figures to have a greater influence on the Dollar and market risk sentiment.

Away from the economic calendar, COVID-19 news and chatter from Capitol Hill will continue to influence.

At the time of writing, the Dollar Spot Index was down by 0.05% to 91.042.

For the Loonie

It’s a quiet day ahead on the economic data front. There are no material stats due out to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of COVID-19 news updates and chatter from Capitol Hill.

At the time of writing, the Loonie was down by 0.02% to C$1.2819 against the U.S Dollar.

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