A busy economic calendar brings the EUR, loonie, pound and greenback into focus

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Earlier in the day:

It was a busy start to the day on the economic calendar this morning. The Aussie dollar was back in action in the early hours of the morning with economic data from China also in focus.

For the Australian dollar

In September the Westpac Consumer Sentiment Index rose 2.0% to 106.2. The index was down 4.4% in August to 104.1.

According to the latest Westpac report

  • Despite lockdowns in Australia’s two major cities, consumer sentiment remained robust in September.
  • The improvement in vaccination rates boosted consumer confidence for the month.

Look at the sub-components:

  • Economic conditions rose 4.6% over the next 12 months while conditions rose 4.8% over the next 5 years.
  • Family finances increased 1.7% year over year, with finances increasing 2.1% over the next 12 months.
  • The time it takes to buy a home increased by 8.8%, while the unemployment expectations index fell by 3.3%.
  • While the Home Price Expectations Index rose 1.4%, the time it takes to buy a vital household item fell 2.7%.

The Aussie dollar rose from $ 0.73191 to $ 0.73134 after the numbers were released. At the time of writing, the Aussie dollar is down 0.16% to $ 0.7305.

From China

Industrial production rose 5.3% year over year in August versus a forecast 5.8% increase. In July production was up 6.4%.

Investments in property, plant and equipment rose by 8.9% compared to the forecast 9.0%. In July, investments in property, plant and equipment had increased by 10.3%.

The Aussie dollar rose from $ 0.73083 to $ 0.73014 after the numbers were released.

Elsewhere

At the time of this writing, the Japanese yen is up 0.11% against the US dollar to 109.570 yen, while the kiwi dollar is down 0.34% to $ 0.7074.

The day ahead

For the EUR

A busier day is ahead on the economic calendar. Industrial production and wage growth figures for the euro area will be released later today. Expect the greater impact of industrial production on the EUR.

Final inflation figures for Italy and France are also pending but should have a subdued impact on the EUR.

At the time of writing, the EUR was up 0.03% to $ 1.1807.

For the pound

Another busy day is ahead on the business calendar. August inflation figures will be released this morning.

Given the BoE’s upcoming monetary policy decision next week, markets expect today’s numbers to be crucial.

A further rise in inflationary pressures could force the BoE to take action sooner rather than later to stem the upward trend in consumer prices.

At the time of writing, the pound is down 0.11% to $ 1.3795.

Across the pond

Another relatively busy day is ahead. NY Empire State manufacturing and industrial production numbers will be the key stats of the day.

Import and export price index figures are also released, but should have a subdued impact on the greenback and broader markets.

At the time of this writing, the US Dollar Spot Index was up 0.02% to 92.641.

For the loonie

The Loonie has a relatively busy day ahead of it.

August inflation figures will be released later today. Since inflation is a major focus, you can expect a lot of impact from the numbers.

At the time of this writing, the loonie was down 0.08% against the US dollar to $ 1.2704.

You can find an overview of all today’s economic events in our economic calendar.

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