A Quiet Economic Calendar Puts the EUR in Focus

On Feb 7, 2022

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Earlier in the Day:

It is a quiet start to the Asian session on the economic calendar. Economic data from China will be in focus early in the Asian session, with January’s Caixin survey services PMI due out. Following some disappointing NBS survey-based PMIs, weak numbers will likely test support for riskier assets.

With stats on the lighter side, expect the markets to also respond to Friday’s U.S nonfarm payroll numbers.

The Majors

At the time of writing, the Japanese Yen was down by 0.01% to ¥115.270 against the U.S Dollar, with the Aussie Dollar up by 0.06% to $0.7077. The Kiwi Dollar was down by 0.30% to $0.6613.

The Day Ahead

For the EUR

It’s a quiet day ahead on the economic calendar. German industrial production figures for December are due out going into the European open. With little else for the markets to consider, expect the numbers to influence following the ECB’s more hawkish position on monetary policy.

At the time of writing, the EUR was down by 0.03% to $1.1445.

For the Pound

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK for the markets to consider. The lack of stats will leave UK politics in focus.

At the time of writing, the Pound was up by 0.01% to $1.3533.

Across the Pond

It’s also a particularly quiet day on the economic calendar, with no major stats due out of the U.S to provide the Dollar with direction. The lack of stats will leave the markets in the hands of any FOMC member chatter and news updates from Capitol Hill.

At the time of writing, the U.S Dollar Spot Index was up by 0.01% to 95.495.

For the Loonie

It’s a particularly quiet day ahead. There are no material stats due out of Canada to provide the Loonie with direction. The lack of stats will leave market risk sentiment and crude oil prices to provide direction.

At the time of writing, the Loonie was up by 0.11% to C$1.2743 against the U.S Dollar.

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