It was a quiet start to the day on the economic calendar this morning. There were no material stats to provide direction through the session, leaving the PBoC in focus.
While updates on the coronavirus were negative, the U.S administration’s latest moves supported riskier assets.
Out of China
On the monetary policy front, the PBoC was in action in the early part of the session.
China’s central bank left loan prime rates unchanged, with the 1-year loan prime rate held at 4.05% and the 5-year at 4.75%. Economists had forecasted the PBoC to cut the 1-year LPR from 4.05% to 3.95% and the 5-year from 4.75% to 4.65%.
The Aussie Dollar moved from $0.58093 to $0.58101 upon the announcement. At the time of writing, the Aussie Dollar was up by 1.97% to $0.5856.
Elsewhere
At the time of writing, the Japanese Yen was up by 0.42% to ¥110.25 against the U.S Dollar, with, the Kiwi Dollar up by 1.41% to $0.5769.
The Day Ahead:
For the EUR
It’s another quiet day ahead on the economic calendar. Economic data is limited to German wholesale inflation figures for February.
The numbers are unlikely to have a material impact on the EUR this time around, though we will expect wholesale inflation to feature next month.
Outside of the numbers, updates from Italy and beyond on the spread of the virus to remain the key driver.
The markets will be looking for measures to contain the virus to be reflected in the latest updates. A wider spread will raise more alarm bells.
At the time of writing, the EUR was up by 0.36% at $1.0731.
For the Pound
It’s another quiet day ahead on the economic calendar, with no material stats due out of the UK to provide the Pound with direction.
Is there a way back for the Pound?
Much will depend on the latest coronavirus numbers and whether there has been a marked increase in the number of cases.
On the policy front, the government may need to step up its support should the number of cases surge.
We won’t expect a move without a material escalation, however, following the BoE’s latest move.
At the time of writing, the Pound was up by 1.30% to $1.1634.
Across the Pond
It’s a relatively quiet day ahead on the U.S economic calendar. On the economic data front, key stats include existing home sales figures for February.
The February numbers are unlikely to reflect any marked shift in consumer sentiment to weigh the sector, which should limit any influence from the numbers.
Throughout the day, we can expect the market focus to remain on the U.S administration action plans to combat the virus.
According to the latest figures, the virus has continued to spread, which will be a test for the Dollar.
The Dollar Spot Index was down by 0.41% to 102.332 at the time of writing.
For the Loonie
It’s a relatively busy day ahead on the economic calendar, with January retail sales figures due out later today.
We would expect the Loonie to be exposed to downside risk, with the markets likely to fret if the bar is already at a low level before the spread of the coronavirus…
Crude oil prices and market sentiment towards demand the economic outlook will likely remain the Loonie’s nemesis on the day.
The Loonie was up by 0.67% at C$1.4414 against the U.S Dollar, at the time of writing, with support coming off the back of a weaker Greenback and a pickup in crude oil prices.
We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.
Ljivgj25-04-2024 | 06:00 PM
buy nizoral pills - order mentax for sale sporanox 100mg pills
Txuong23-04-2024 | 06:00 PM
buy lamisil 250mg for sale - buy griseofulvin pills for sale buy grifulvin v no prescription
Ucekmx23-04-2024 | 06:00 PM
where to buy semaglutide without a prescription - desmopressin sale purchase DDAVP sale
Ootwuc20-04-2024 | 06:00 PM
buy repaglinide generic - empagliflozin medication cheap empagliflozin
Yfmmdr20-04-2024 | 06:00 PM
glycomet 1000mg over the counter - buy januvia 100mg generic acarbose 50mg pills
Xtujaw18-04-2024 | 06:00 PM
glyburide cheap - forxiga 10mg usa cheap dapagliflozin
Tbfnny16-04-2024 | 06:00 PM
buy desloratadine 5mg pills - order beclamethasone generic ventolin 4mg pills
Qzxsew15-04-2024 | 06:00 PM
medrol 16 mg over the counter - buy claritin cheap astelin oral
Tetdis14-04-2024 | 06:00 PM
buy albuterol 2mg online cheap - ventolin 2mg sale cheap theophylline 400mg
Cmnfjf12-04-2024 | 06:00 PM
stromectol 3 mg tablet - aczone canada cefaclor 250mg cost
Bvapij10-04-2024 | 06:00 PM
buy clindamycin pills - chloromycetin price order chloramphenicol generic
Bhilrm10-04-2024 | 06:00 PM
buy azithromycin 500mg generic - cost tinidazole 500mg ciprofloxacin 500mg tablet
Lqtaha05-04-2024 | 06:00 PM
amoxicillin pills - buy generic cephalexin where to buy ciprofloxacin without a prescription
Qrletx04-04-2024 | 06:00 PM
augmentin 375mg ca - purchase ampicillin for sale generic ciprofloxacin 500mg
Lzmgru01-04-2024 | 06:00 PM
buy hydroxyzine 25mg for sale - buy endep 10mg online order endep 10mg
Kulbwa31-03-2024 | 06:00 PM
clomipramine 50mg cheap - clomipramine cost sinequan 75mg price
Fyuezv30-03-2024 | 06:00 PM
cost quetiapine - purchase sertraline online purchase eskalith sale
Pkdamn28-03-2024 | 06:00 PM
clozaril 50mg brand - ramipril 10mg generic buy famotidine 20mg pill
Xerszi27-03-2024 | 06:00 PM
buy retrovir generic - buy cheap zyloprim allopurinol where to buy
Ocosqm25-03-2024 | 06:00 PM
glycomet brand - order ciprofloxacin 1000mg pill lincomycin price
Iejvxz24-03-2024 | 06:00 PM
buy furosemide pill diuretic - tacrolimus pills capoten us
Lqteut22-03-2024 | 06:00 PM
order ampicillin online buy acillin for sale buy amoxicillin without prescription
Fhkgeq22-03-2024 | 06:00 PM
order metronidazole 400mg generic - cleocin 150mg canada cheap zithromax
Lnfubu20-03-2024 | 06:00 PM
valacyclovir order - order generic zovirax 400mg generic zovirax 400mg
Nqttya20-03-2024 | 06:00 PM
buy ivermectin online - order sumycin 500mg sale purchase sumycin sale
Fkpbkv18-03-2024 | 06:00 PM
flagyl 400mg ca - clindamycin brand order zithromax 250mg
Noqesb18-03-2024 | 06:00 PM
buy ciplox without a prescription - purchase amoxicillin generic erythromycin 500mg us
Sjikwv15-03-2024 | 06:00 PM
order generic baycip - myambutol 1000mg drug augmentin tablet
Skcwgp14-03-2024 | 06:00 PM
purchase baycip - baycip price augmentin 1000mg without prescription