For the Dollar:
Retail sales figures will draw plenty of interest on Tuesday. Following impressive NFP numbers, the markets will be expecting positive numbers. Last week’s data, sent mixed messages, however, leaving uncertainty and increased volatility.
On Thursday, the weekly jobless claims data for the 1st week of August will be in focus, along with Philly FED manufacturing data.
While the Philly FED numbers are key, expect the initial jobless claims data to be of greater influence.
On the monetary policy front, the FOMC Meeting Minutes on Wednesday will also provide plenty of direction. Any talk of tapering should labor market numbers improve would deliver Dollar support.
In the week ending 13th August, the Dollar Spot Index fell by 0.30% to 92.518.
For the EUR:
It’s a quieter week on the economic data front.
2nd estimate GDP numbers for the Eurozone will be in focus on Tuesday. Expect any downward revisions to test EUR support. The ECB has raised concerns over growth in the 3rd quarter. Lowering the bar for the 2nd quarter would deliver a gloomier outlook.
Finalized inflation figures for the Eurozone on Wednesday and wholesale inflation figures from Germany will also draw interest.
For the week, the EUR rose by 0.30% to $1.1797.
For the Pound:
It’s a busy week ahead on the economic calendar.
Claimant counts, employment change, and the unemployment rate will be in focus on Tuesday. Expect the unemployment rate and claimant count figures to be key.
Also of influence will be inflation and retail sales figures due out on Wednesday and Thursday.
The Pound ended the week down by 0.04% to $1.3866.
For the Loonie:
It’s a busier week ahead on the economic calendar.
Mid-week, inflation will be in focus ahead of ADP employment change and retail sales figures due out on Thursday and Friday.
After a quiet week on the economic data front in the week prior, expect plenty of interest in the numbers.
The Loonie ended the week up 0.31% to C$1.2515 against the U.S Dollar.