EUR and CAD Remain in Focus at the Week Close


While the week is drawing to a close, let’s take a look at the currencies, market influencing stats released and those already due out with the impacts created.

The UK upcoming election has been in focus with a YouGov poll predicting a majority win for conservatives. Earlier on today, any update on the opinion polls conducted recently will impact the market. Due out later today is the BBC televised debate which will be broadcasted live.

Investors eagerly await China’s response to the latest bills passed by the United States to support human rights in Hong Kong. If China takes a retaliatory stance, it may weigh on the currencies.

Focus is also on any latest update on the trade talks which had seemingly made progress in the last two weeks buoying the dollar and other riskier assets.

Market Influencing Stats
Japan recently released its inflation and industrial production stats, October building consents from New Zealand which had 1.1 % drop and private sector credit figures released out of Australia also impacted the market in the early hours of today.

Also impacting the market is consumer spending and GDP numbers out of France, retail sales and unemployment figures which came out of Germany.

If events go as predicted, the inflation figures may not significantly influence the Euro while the other two which are the consumer spending and unemployment figures will significantly count.

The inflation rate annually is below a percent so if there are any increases; it may not be a cause for concern for the European Central Bank, so it may not be impactful.

Estimated inflation numbers for November are due out of Italy and the Eurozone; investors also await Eurozone’s unemployment figures for November.

There is no market influencing stats for the pound and USD has given the Thanksgiving holiday in the United States.

For CAD, market influencing stats are 3rd quarter GDP and October RMPI figures given the Bank of Canada monetary policy decision meeting to hold next week.

The Current Standing of the Currencies
The Kiwi Dollar rose to $0.64184 from a previous price of $0.64181 due to building consent stats. Currently, the Kiwi Dollar is standing at +0.02% to trade at $0.6421.

EUR rose by 0.02% to trade at $1.1011. The Pound fell by 0.01% to trade at $1.2911. The Dollar Spot Index fell by 0.05% at a stand at 98.325.

CAD fell by 0.02% to stand at C$1.3285, versus the U.S Dollar.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.