Earlier in the Day:
It was a busier start to the day on the economic calendar this morning. The Japanese Yen was in action in the early hours of the day.
For the Japanese Yen
Inflation and private sector PMI figures were in focus in the early hours.
In September, Japan’s annual core rate of inflation picked up from -0.2% to 0.1%, which was in line with forecasts.
More importantly, private sector PMIs were upbeat, according to prelim figures.
In October, Japan’s Services PMI rose from 47.8 to 50.7, with the Manufacturing PMI increasing from 51.5 to 53.0.
According to the Prelim Market Survey,
Output across the private sector returned to growth, with both manufacturing and services contributing.
New orders picked up as a result of a return to growth across the manufacturing sector. The service sector reported a softer fall in new orders.
New export orders were mixed, however. While the manufacturing sector reported a pickup in overseas demand, the services sector saw a stronger decline.
Output prices were on the rise across the private sector, with input prices also rising at a more marked pace.
The Japanese Yen moved from ¥113.937 to ¥113.992 upon release of the PMIs. At the time of writing, the Japanese Yen was down by 0.17% to ¥114.180 against the U.S Dollar.
The Day Ahead
For the EUR
It’s a relatively busy day ahead on the economic calendar. Private sector PMIs for France, Germany, and the Eurozone will be in focus today.
While we can expect plenty of market sensitivity to the headline figures, there will also be interest in cost pressures and supply chain issues.
At the time of writing, the EUR was up by 0.04% to $1.1628.
For the Pound
It’s a busy day ahead on the economic calendar. Early in the day, UK retail sales figures for September will be of particular importance. With the BoE eyeing the impact of inflation on the economy, weak consumption could force the BoE’s hand.
Later in the morning, prelim private sector PMIs for October are also due out, with the Services PMI key.
At the time of writing, the Pound was up by 0.09% to $1.3805.
Across the Pond
It’s a relatively busy day ahead. Prelim private sector PMIs for October will be in focus. Once more, with inflation a key area of focus, expect cost pressures to be an area of focus along with hiring.
Away from the economic calendar, central bank chatter will also need monitoring.
At the time of writing, the U.S Dollar Spot Index was down by 0.02% to 93.747.
For the Loonie
It’s a busier day ahead for the Loonie, with retail sales figures for August in focus.
Expect Loonie sensitivity to the numbers upon release.
Crude oil prices and PMI numbers will also influence, however.
At the time of writing, the Loonie was up by 0.10% to C$1.2356 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