Economic Data Puts the EUR and Greenback in the Spotlight, with COVID-19 News also in Focus
Earlier in the Day:
It is a relatively quiet start to the day on the economic calendar this morning. The Japanese Yen was in action in the early part of the Asian session.
For the Japanese Yen
Retail sales drew attention this morning.
According to the Ministry of Economy, Trade and Industry, retail sales rose by 8.2% in May, year-on-year, versus a forecasted 7.9% rise. In April, retail sales had been up by 11.9%.
The Japanese Yen moved from ¥110.596 to ¥110.568 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.14% to ¥110.470 against the U.S Dollar.
The Day Ahead
For the EUR
It’s a relatively quiet day ahead on the economic data front. Consumer sentiment figures for the Eurozone and German inflation figures are due out later today.
The markets will be looking for a pickup in consumer confidence to support a consumer spending fueled economic boost in the 2nd half of the year. Expect any weak numbers to test support for the EUR.
On the inflation front, a marked rise in German consumer prices would deliver EUR support, however.
At the time of writing, the EUR was down by 0.02% to $1.1923.
For the Pound
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
A lack of stats will continue to leave the Pound in the hands of COVID-19 news updates.
At the time of writing, the Pound was down by 0.10% to $1.3869.
Across the Pond
It’s a relatively quiet day ahead.
House price figures for April are due out along with June’s consumer confidence figures.
Expect June’s consumer confidence figures to be key.
At the time of writing, the Dollar Spot Index was up by 0.02% to 91.901.
For the Loonie
It’s a particularly quiet day ahead on the economic data front. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will continue to leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was up by 0.02% to C$1.2334 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.