Blog: Brexit and Inflation Figures Put 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 October inflation figures for the Eurozone are due out later today.

With the ECB set to deliver next month, the stats are unlikely to have a material impact on the EUR, however.

With Brexit negotiations reaching the final day of talks, updates from Brexit will influence. COVID-19 news will also provide direction, however.

At the time of writing, the EUR was down by 0.08% to $1.1853.

For the Pound

It’s also a relatively quiet day ahead on the economic calendar. October inflation figures are due out later this morning.

With the BoE ready to drop rates into negative territory, the annual rate of inflation and wholesale inflation will be the key drivers.

The stats are unlikely to have a material impact on the Pound, however. With the EU Summit tomorrow, it’s all about Brexit. Optimism and hopes of a trade agreement have continued to support the Pound…

At the time of writing, the Pound was flat at $1.3246.

Across the Pond

It’s a relatively busy day ahead for the U.S Dollar. October building permits and housing starts are due out later today.

With mortgage rates at close to record lows, the numbers are unlikely to provide the U.S Dollar with direction.

Expect U.S politics and COVID-19 news updates to be the key drivers on the day.

At the time of writing, the Dollar Spot Index was up by 0.09% to 92.503.

For the Loonie

It’s a relatively busy day on the economic data front. October inflation figures are due out later today. Expect Loonie sensitivity to the numbers.

Market risk sentiment and COVID-19 news updates will also influence throughout the day.

At the time of writing, the Loonie was down by 0.08% to C$1.3115 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