Earlier in the Day:
It was a busy start to the day on the economic calendar this morning. The Japanese Yen was in action this morning, with economic data from China also in focus.
For the Japanese Yen
1st estimate quarter GDP numbers were in focus this morning.
In the 2nd quarter, the Japanese economy expanded by 0.3%, quarter-on-quarter, versus a forecasted 0.2%. The economy had contracted by 1.0% in the 1st quarter.
Year-on-year, the economy grew by 1.30% after having contracted by 3.9% in the 1st quarter of this year. Economists had forecast growth of 0.7%.
Later this morning, finalized industrial production figures for June are due out but should have a muted impact on the markets.
The Japanese Yen moved from ¥109.638 to ¥109.514 upon release of the figures. At the time of writing, the Japanese Yen was up 0.21% to ¥109.360 against the U.S Dollar.
Economic data from China was on the heavier side this morning. Fixed asset investments, industrial production, and retail sales figures were in focus.
In July, industrial production increased by 6.4% year-on-year versus a forecasted 7.8%. Production had been up by 8.3% in June.
Retail sales rose by 8.5%, year-on-year, versus a forecasted 11.5%. In June, retail sales had been up by 12.1%.
Fixed asset investments were up 10.3% year-to-date, which was down from 12.6% in June. Economists had forecast a rise of 11.3%.
The Aussie Dollar moved from $0.73568 to $0.73528 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.23% to $0.7353.
At the time of writing, the Kiwi Dollar was down by 0.09% to $0.7036.
The Day AheadFor the EUR
It’s a particularly quiet day ahead on the economic data front. There are no material stats due out of the Eurozone to provide the EUR with direction. A lack of stats will leave the EUR in the hands of market risk sentiment,
At the time of writing, the EUR was up by 0.01% to $1.1798.
For the Pound
It’s also 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.
Following pressure on the Pound last week, COVID-19 news, central bank chatter, and news from Downing Street will need monitoring.
At the time of writing, the Pound was down by 0.02% to $1.3863.
Across the Pond
It’s a relatively quiet day ahead on the economic calendar.
NY Empire State Manufacturing numbers for August are due out late in the day. With little else for the markets to consider, expect any weak numbers to further test support for the Greenback.
FOMC member chatter and COVID-19 news updates will also need monitoring through the day.
At the time of writing, the U.S Dollar Spot Index was down by 0.02% to 92.496.
For the Loonie
It’s yet another particularly quiet day on the economic calendar. There are no material stats due out of Canada to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.14% to C$1.2532 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
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