mask Economic Data Puts the EUR, GBP and US Dollar in the Spotlight While Coronavirus will Continue to be in Focus

17/ 03/ 2020

Economic Data Puts the EUR, GBP and US Dollar in the Spotlight While Coronavirus will Continue to be in Focus

Daily Update - 17th March 2020

Yesterday’s Market

  • CNY Industrial Production

Yesterday’s Explained 

The coronavirus outbreak has led to a full-blown national emergency in the U.S. President Trump banned flights from Europe, which sapped risk appetite and sent investors scurrying to the U.S. dollar. Inflation levels remained low in February, with CPI coming in at 0.1% and Core CPI at 0.2%. Consumer confidence dropped sharply in February, falling from 100.9 to 95.9 points.

 

Today’s Market

  • GBP Average Earning Index; Claimant Count Change
  • EUR German ZEW Economic Sentiment
  • USD Core Retail Sales

Today’s Focus  

It’s a relatively busy day ahead on the Eurozone economic calendar. Key stats due out later this morning include ZEW economic sentiment figures for Germany and the Eurozone and Eurozone wage growth figures. 4th quarter wage growth figures are likely to have a muted impact, with the markets more interested in sentiment towards the coronavirus. It wouldn’t be a surprise, however, if sentiment slumps.

As things stand, there’s little from the economic calendar that can ease negative sentiment, which will limit any influence from any positive numbers.