Blog: Economic Data from China Sets the Tone, with COVID-19 and Brexit in Focus – FX Empire

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Finalized October inflation figures for Italy are due out later today.

With Brexit and the effects of COVID-19 lockdown measures in focus, the numbers are unlikely to move the dial.

On the monetary policy front, ECB President Lagarde could provide direction, however. Following assurances last week of further support next month, any details would garner plenty of interest.

At the time of writing, the EUR was up by 0.13% to $1.1849.

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 leave the Pound in the hands of Brexit and COVID-19 news updates.

On the Brexit front, there has been some chatter on extending trade talks…

At the time of writing, the Pound was up by 0.25% to $1.3222.

Across the Pond

It’s a relatively quiet day ahead for the U.S Dollar. NY Empire State Manufacturing Index figures are due out later today.

With the market focus on COVID-19, containment measures, and the likely impact on consumption, the numbers are unlikely to have a material impact on market risk sentiment.

Away from the economic calendar, chatter from Capitol Hill, and COVID-19 news updates will continue to influence.

At the time of writing, the Dollar Spot Index was down by 0.16% to 92.608.

For the Loonie

It’s a quiet day on the economic data front. Manufacturing sales figures for September are due out. Barring particularly dire numbers, however, the stats are unlikely to have a material impact on the Loonie.

Market risk sentiment and COVID-19 news updates will remain the key drivers on the day.

At the time of writing, the Loonie was up by 0.20% to C$1.3111 against the U.S Dollar.

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

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