In This Article:
Earlier in the Day:
It was another relatively quiet start to the day on the economic calendar this morning. The Japanese Yen was in action, with employment figures focus following Monday’s monetary policy move.
Outside of the numbers, the start of the week coronavirus numbers and chatter from governments on easing lockdown measures also influenced.
On Monday, the number of new coronavirus cases rose by 66,953 to 3,059,081. On Sunday, the number of new cases had risen by 71,251.
France, Germany, Italy, and Spain reported 8,938 new cases on Monday, which was up from 7,063 new cases on Sunday. A rise in new cases from France led to the EU’s day on day increase, while the overall downward trend continued.
From the U.S, the total number of cases rose by 21,235 to 1,008,043 on Monday. On Sunday, the total number of cases had risen by 26,157. On Monday, 20th April, the new number of cases had risen by 28,494.
The continued downward trend from last week was evident, supporting government decisions to ease lockdown measures.
Out of Japan
The Job / Application ratio decreased from 1.45 to 1.39, which was worse than a forecasted decline to 1.40.
In spite of the decline, the Yen showed little response in the wake of the BoJ’s moves to support the economy on Monday.
The Japanese Yen moved from ¥107.280 to ¥107.269 upon release of the figures. At the time of writing, the Japanese Yen was down by 0.01% to ¥107.26 against the U.S Dollar.
Elsewhere
At the time of writing, the Aussie Dollar was down by 0.11% to $0.6458, with the Kiwi Dollar down by 0.28% to $0.6030. Following Monday’s rally, a slide in crude oil prices from Monday tested support for the pair early on.
The Day Ahead:
For the EUR
It’s another quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone to provide the EUR with direction.
The lack of stats will leave the EUR in the hands of COVID-19 news on the day and any chatter from Brussels on a more meaningful aid package.
At the time of writing, the EUR was up by 0.02% to $1.0831.
For the Pound
It’s also a particularly quiet day ahead on the economic calendar. There are no material stats to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of market risk sentiment and the latest COVID-19 updates.
While the Pound is likely to find support in the event of a pickup in risk appetite, the chances of a more prolonged lockdown would be Pound negative.
Expect updates from the British government to influence on the day.