Yahoo Finance Economic Data from the U.S Puts the U.S Dollar Back in the Spotlight…
Earlier in the Day:
It was another quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action in the early part of the day.
The Kiwi Dollar
In April, the Business PMI slipped from 63.6 to 58.4.
According to the April survey,
While down from March, it was the second highest reading since July 2020.
In April, the production sub-index (64.5) and new orders sub-index (60.9) remained key drivers. The new orders sub-index fell from 72.3 to 60.9, with the production sub-index falling from 66.5 to 64.5.
Both employment (52.7) and finished stocks (55.2%) remained at similar levels as seen in March.
Deliveries of raw materials slid by 10.6 points to 52.4, however.
The Kiwi Dollar moved from $0.71863 to $0.71853 upon release of the figures. At the time of writing, the Kiwi Dollar was up by 0.08% to $0.7180.
The Majors
At the time of writing, the Japanese Yen was down by 0.12% to ¥109.60 against the U.S Dollar, with the Aussie Dollar down by 0.01% to $0.7729.
The Day Ahead
For the EUR
It’s a relatively quiet day ahead on the economic data front. Finalized inflation figures for Spain are due out later today.
Barring a marked revision from prelim figures, however, the numbers should have a muted impact on the EUR.
Market risk sentiment, driven in part by economic data from the U.S and optimism towards the Eurozone economic recovery should continue to support near-term.
At the time of writing, the EUR was up by 0.02% to $1.2083.
For the Pound
It’s another particularly quiet day ahead on the economic calendar. There are also no material stats to provide the Pound with direction.
The continued reopening of the UK economy and market optimism towards a speedy economic recovery should continue to support the Pound.
At the time of writing, the Pound was down by 0.02% to $1.4049.
Across the Pond
It’s another relatively busy day ahead on the economic calendar. Retail sales, industrial production, and consumer sentiment figures will be in focus later today.
Expect the retail sales and consumer sentiment figures to be the key drivers.
Away from the economic calendar, chatter from Capitol Hill will also need monitoring.
At the time of writing, the Dollar Spot Index was down by 0.01% to 90.739.
For the Loonie
It’s a relatively quiet day ahead on the economic calendar. Wholesale sales and manufacturing sales figures are out later today.
Barring particularly dire numbers, however, the stats should have a relatively muted impact on the Loonie.
Upbeat sentiment towards demand for crude oil and also the Canadian economic outlook remain positives for the Loonie.
At the time of writing, the Loonie was down by 0.02% to C$1.2165 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
