U.S Consumer Sentiment and Retail Sales Put the Dollar Back in the Spotlight

Bob Mason
·2 min read

Earlier in the Day:

It was a quieter start to the day on the economic calendar this morning. The Kiwi Dollar was in action this morning.

For the Kiwi Dollar

The Business PMI rose from 39.7 to 51.4 in September. In August, the PMI had tumbled from 62.4 to 39.7.

According to September survey,

  • The production sub-index jumped from 27.2 to 49.9, with the new orders sub-index up from 44.1 to 54.3.

  • Hiring saw a modest pickup in pace, with the sub-index rising from 54.3 to 54.5.

The Kiwi Dollar moved from $0.70359 to $0.70327 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.01% to $0.7035.

Elsewhere

At the time of writing, the Japanese Yen was down by 0.04% to ¥113.730 against the U.S Dollar. The Aussie Dollar was up by 0.04% to $0.7419.

The Day Ahead

For the EUR

It’s a relatively busy day ahead on the economic calendar. Finalized inflation figures from France and Italy are due out along with trade data for the Eurozone.

Barring any marked upward revisions to prelim inflation figures, expect the Eurozone’s trade data to have the greatest influence.

At the time of writing, the EUR was up by 0.01% to $1.1598.

For the Pound

It’s a particularly quiet day ahead on the economic calendar, with no major stats due out of the UK to provide the Pound with direction.

The lack of stats will leave the Pound in the hands of market sentiment towards BoE monetary policy and market risk sentiment.

At the time of writing, the Pound was up by 0.07% to $1.3676.

Across the Pond

It’s a busy day ahead. Retail sales and consumer sentiment figures will be the key stats of the day.

Manufacturing data from NY State and import and export price figures are also due out but will likely have a muted impact on the Dollar.

On Thursday, the U.S Dollar Spot Index fell by 0.13% to 93.956.

For the Loonie

It’s a relatively quiet day ahead for the Loonie. Wholesale sales figures for August are due out later in the day.

With little else for the markets to consider, we can expect some influence on the Loonie.

Away from the economic calendar, crude oil inventories will also provide direction, however.

At the time of writing, the Loonie was down by 0.02% to C$1.2373 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

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