Economic Data Puts Germany and the EUR Back in the Spotlight

On Feb 23, 2021

Earlier in the Day:

It’s was a quiet start to the week on the economic calendar this morning. There were no material stats to provide the majors with direction.

For the Majors

At the time of writing, the Japanese Yen was down by 0.09% to ¥105.54 against the U.S Dollar. The Aussie Dollar was up by 0.36% to $0.7897, with the Kiwi Dollar up by 0.42% to $0.7330.

The Day Ahead:

For the EUR

It’s a relatively busy day ahead on the economic calendar. February’s IFO Business Climate Index for Germany and sub-indicators are due out later today.

Following last week’s impressive manufacturing PMI number, the markets will be expecting a sharp increase in business sentiment.

Disappointing numbers will peg back the EUR on release.

At the time of writing, the EUR was up by 0.08% to $1.2129.

For the Pound

It’s a particularly quiet day ahead on the economic calendar. The lack of stats will leave the Pound in the market risk sentiment on the day.

With the Pound reaching $1.40 levels, market sentiment towards the UK economy will now be hinged on COVID-19 containment measures.

Progress on the vaccination front continues to support a nearer term end to containment measures than its neighbors, which remains Pound positive.

At the time of writing, the Pound was up by 0.13% to $1.4034.

Across the Pond

It’s also another particularly quiet day ahead on the economic calendar. There are no material stats due out of the U.S to provide the markets with direction.

The lack of stats will leave the Dollar and the U.S markets in the hands of chatter from Capitol Hill.

At the time of writing, the Dollar Spot Index was down by 0.13% to 90.248.

For the Loonie

It’s a quiet day ahead on the economic calendar. There are no material stats to provide the Loonie with direction.

With little for the markets to consider in the 2^nd half of the day, expect updates on U.S stimulus and market risk sentiment to provide direction.

At the time of writing, the Loonie was up by 0.17% to C$1.2593 against the U.S Dollar.

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