Economic Data Puts the EUR and USD in the Spotlight, with U.S Politics also in Focus

The Day Ahead:

For the EUR

It’s another busy day ahead on the economic calendar. German factory orders and Eurozone retail sales figures are in focus later this morning.

Other stats include German construction figures and inflation numbers for Italy and the Eurozone.

Barring particularly dire numbers, however, these stats are unlikely to have a material impact on the EUR.

On the monetary policy front, the ECB’s Economic Bulletin will also draw interest later today.

Away from the economic calendar, COVID-19 news and vaccine updates will also influence.

At the time of writing, the EUR was up by 0.06% to $1.2335.

For the Pound

It’s another relatively quiet day ahead on the economic calendar. December’s construction PMI is due out later today.

The numbers are unlikely to have a material impact on the Pound, however.

Expect market sentiment towards the latest lockdown measures and COVID-19 vaccine news to continue to influence.

At the time of writing, the Pound was up by 0.13% to $1.3626.

Across the Pond

It’s a relatively quiet day ahead on the economic calendar. The market’s preferred ISM Services PMI and jobless claims figures are due out.

Expect market sensitivity to both sets of figures.

Away from the economic calendar, COVID-19 news and chatter from Capitol Hill to also provide direction.

At the time of writing, the Dollar Spot Index was down by 0.19% to 89.357.

For the Loonie

It’s a relatively quiet day on the economic data front. December’s Ivey PMI is due out later today.

With little else for the markets to consider, expect a Loonie response to today’s figures.

Away from the economic calendar, U.S politics and COVID-19 news will also provide direction.

At the time of writing, the Loonie was up by 0.02% to C$1.2675 against the U.S Dollar.

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