Blog: Economic Data and Brexit Keep the Pound in the Spotlight – FX Empire

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Finalized August inflation figures for Germany and Spain are in focus later today.

With the markets having already responded to prelim numbers, however, the numbers are unlikely to have a material impact on the EUR.

We would expect the aftermath of the ECB press conference and market sentiment towards the Eurozone economy to be key drivers.

At the time of writing, the EUR was up by 0.17% to $1.1835.

For the Pound

It’s a busy day ahead on the economic calendar. Key stats include GDP, industrial and manufacturing production figures for July. July trade figures are also due out but will likely have a muted impact on the Pound.

While we expect the GDP numbers and manufacturing production, in particular, to influence, Brexit remains a key driver.

At the time of writing, the Pound was down by 0.01% to $1.2804.

Across the Pond

It’s a relatively quiet day ahead for the U.S Dollar. August inflation figures are due out later today.

While we can expect some influence from the numbers ahead of the FOMC policy decision next week, it’s Friday.

U.S President Trump favors Friday messaging, leaving the Dollar exposed to any chatter from the Oval Office and beyond.

The Dollar Spot Index was down by 0.05% to 93.289 at the time of writing.

For the Loonie

It’s a quiet day ahead, with no material stats due out of Canada to provide the Loonie with direction.

A lack of stats will leave the Loonie in the hands of market risk sentiment and crude oil prices.

At the time of writing, the Loonie was up by 0.05% to C$1.3186 against the U.S Dollar.

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

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