Forex Previews

Nonfarm payrolls: A battle between risk taking and safety – Forex News Preview

Posted on July 1, 2020 at 11:30 am GMT

The ISM manufacturing PMI is due today at 14:00 GMT and June’s Nonfarm payrolls will be released on Thursday, a day earlier than usual, at 12:30 GMT as US markets will be shut on Friday for July 4th celebrations. While another upbeat outcome is expected to boost risk sentiment, investors might catch themselves between virus fears and improving data, capping any potential gains. Covid-19 resurgence: a global wake-up call The health community has been repeatedly warning that the removal of lockdown [..]

Australian retail sales and China PMI may stir but not break aussie’s range – Forex News Preview

Posted on June 30, 2020 at 1:15 pm GMT

As markets grapple with the real threat of escalating virus cases derailing the global economic recovery, the risk-sensitive Australian dollar will be keeping an eye on a number of indicators out of Australia and China this week. The Caixin/Markit manufacturing PMI due from China on Wednesday (1:45 GMT) and Australian retail sales figures out on Friday (1:30 GMT) will be the main highlights for traders. Virus and economic success keep aussie supported After what seemed like an unstoppable rally, growing [..]

Fed minutes could upset markets – Forex News Preview

Posted on June 30, 2020 at 9:50 am GMT

It’s a packed week in America, where Fed Chairman Powell will testify at 16:30 GMT Tuesday, ahead of the minutes of the latest FOMC meeting at 18:00 GMT Wednesday. The crucial jobs numbers for June will follow Thursday. In a nutshell, the minutes could show a Fed that’s still hesitant towards yield curve control, much like Powell seemed back at that meeting. If so, that might lift the dollar and hurt stocks a little, but in the bigger picture, how [..]

Week Ahead – NFP in focus as US virus cases spike, recovery in doubt

Posted on June 26, 2020 at 12:10 pm GMT

As the risk rally fizzles out amid rising concerns about a second wave of virus infections in the United States, the all-important jobs report has the capacity to either calm or scare jittery markets. With very few other top tier releases on the agenda next week, it’s hard to see anything other than the virus story driving investor sentiment. Special attention will be on the escalation of Covid-19 cases in the US and whether any states begin to reverse some [..]

After disappointing PMIs, core inflation and personal consumption next on dollar’s agenda – Forex News Preview

Posted on June 24, 2020 at 10:48 am GMT

The Fed’s favourite inflation index will hit the markets on Friday at 12:30 GMT along with personal consumption and income readings. The data could reflect a recovering appetite for consumption which could consequently give some room for improvement to the dollar. However, the gains could be modest as weakness in inflation may suggest more delays in reaching the central bank’s target. Still, upside pressures cannot be ruled out in the years ahead. Consumers start spending more, but inflation may remain [..]

RBNZ meeting: Talking down the kiwi? – Forex News Preview

Posted on June 22, 2020 at 3:20 pm GMT

The Reserve Bank of New Zealand will wrap up its policy meeting at 02:00 GMT Wednesday, and while no action is expected, the choice of language could be crucial. Recent developments in New Zealand have been encouraging, which alongside stronger risk appetite globally, have catapulted the kiwi much higher. So high in fact, that the RBNZ may be feeling a bit uncomfortable with its current levels. Will policymakers ‘talk down’ the currency? Virus free, ahead of schedule New Zealand is [..]

UK PMIs to recover further as economy reopens, but Brexit fears rattle pound – Forex News Preview

Posted on June 22, 2020 at 3:15 pm GMT

Preliminary PMI numbers for June will be watched out of the United Kingdom on Tuesday at 08:30 GMT. As the UK economy slowly emerges from the virus shutdown, the PMI gauges are anticipated to reflect the reopening of some businesses. But as Prime Minister Boris Johnson prepares to announce the latest phase of the lockdown easing, there are other things troubling the pound. A worsening stand-off between British and EU negotiators in the Brexit talks has derailed cable’s rebound, even [..]

Week Ahead – Juiced up markets wrestle with the virus blues

Posted on June 19, 2020 at 12:55 pm GMT

Markets will remain tuned to virus news in the coming week, as the battle between stimulus-fueled optimism and second wave fears rages on. The US virus count might be what tips the scales, not just for stocks but for currencies also, as risk appetite has become the dominant force in the FX arena now that the dollar is acting like a haven. Elsewhere, the RBNZ is unlikely to do or say much, while PMIs from around the globe will tell [..]

After EU stimulus delay, euro sets sights on flash PMIs as rally falters – Forex News Preview

Posted on June 19, 2020 at 12:43 pm GMT

Eurozone PMIs bounced back strongly in May, fuelling hopes of economic recovery in the world’s largest trading block. But with EU solidarity once again being tested as leaders are split on a virus rescue plan, all eyes will be on the preliminary PMI indicators for June due on Tuesday (08:00 GMT) for signs that the recovery remains on track. The data could set the euro’s next direction as the currency consolidates after coming close to fully retracing its March fall. [..]

EU to debate long-term budget: Could euro bulls get the green light? – Forex News Preview

Posted on June 17, 2020 at 3:32 pm GMT

The euro was in the doldrums during the lockdown period until the two largest EU economies came together in support of a new recovery fund which would give out grants, sending the common currency to a three-month high. The amount announced is not significant but perhaps is considered enough to lead to more integration if it is finally approved at the EU virtual summit this Friday which will also discuss the long-term EU budget. Expectations are for the debate to [..]

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