Blog: Economic Data and Brexit to Keep the Pound Front and Center – FX Empire

The Day Ahead:

For the EUR

It’s a busy day ahead on the economic calendar. Key stats include September ZEW Economic Sentiment figures for Germany and the Eurozone.

2nd quarter wage growth figures for the Eurozone and finalized inflation figures for France and Italy are also in focus. We would expect these stats to have a muted impact on the EUR, however.

Expect the Economic Sentiment figures to be the key drivers on the day.

At the time of writing, the EUR was up by 0.08% to $1.1875.

For the Pound

It’s a particularly busy day ahead on the economic calendar. Key stats include August claimant counts and July’s unemployment rate.

Average earnings and 3-month rolling employment change figures are also due out but likely to have a muted impact on the Pound.

Away from the economic calendar, Brexit will remain a key driver.

At the time of writing, the Pound was down by 0.11% to $1.2832.

Across the Pond

It’s also a relatively busy day ahead for the U.S Dollar. Key stats include August industrial production figures and September NY Empire State Manufacturing Index numbers.

Other stats include August import and export price index numbers that will have a muted impact on the day.

With the markets a little edgy over the sustainability of the economic recovery, expect dire numbers to drive demand for the safe havens.

On the geopolitical risk front, there’s also chatter from Beijing and Washington to muddy the waters.

The Dollar Spot Index was down by 0.04% to 93.011 at the time of writing.

For the Loonie

It’s another quiet day ahead, with key stats limited to July manufacturing sales figures.

The stats are unlikely to have an impact on the Loonie, leaving the IEA’s monthly report to provide direction.

From elsewhere, expect stats from China and the U.S and geopolitics to also provide direction on the day.

At the time of writing, the Loonie was up by 0.12% to C$1.3160 against the U.S Dollar.

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s