Forex Previews

UK PMIs to slump further as lockdown extended; retail sales to tumble as well – Forex News Preview

Posted on April 21, 2020 at 1:50 pm GMT

With the number of new daily cases of coronavirus in Britain now rising faster than in other European countries, dashing hopes of an early exit from lockdown, flash PMI and retail sales releases will draw interest this week. The Purchasing Managers’ Index (PMI) by IHS Markit/CIPS is due on Thursday at 8:30 GMT and retail sales data will follow on Friday at 6:00 GMT. In the meantime, the pound is struggling to hold onto its recent gains versus the US [..]

European PMIs may be scary, but euro has bigger fish to fry – Forex News Preview

Posted on April 21, 2020 at 1:26 pm GMT

The Eurozone’s preliminary PMIs for April will be released on Thursday at 08:00 GMT, and the numbers could be scary. However, investors don’t pay much attention to economic data nowadays, so the euro might be driven by risk sentiment and politics instead. The meeting of EU leaders – also on Thursday – is an asymmetric upside risk, but the currency’s broader outlook still seems negative. Too little, too late The European Union’s weak institutional framework has come back to bite [..]

Week Ahead – Global PMIs could sober up investors

Posted on April 16, 2020 at 12:45 pm GMT

With the worst of the pandemic now behind Europe and the US also approaching a peak, markets have turned their sights to when economies will re-open. Stocks have recovered on hopes for a ‘return to normal’, but importantly, safe havens like the yen and gold are also gaining. The combination suggests that traders are still playing defense, and that the recent stock rally may be built on shaky foundations. Indeed, investors might be downplaying the scale of this crisis, and [..]

China to give first evidence on Covid-19 growth impact – Forex News Preview

Posted on April 16, 2020 at 10:03 am GMT

The world is seeking clues on how painful the virus economic impact could be and China’s GDP growth readings for Q1 released on Friday at 02:00 GMT may give a bitter taste. Despite that, a rebound in monthly retail sales, urban investment and industrial production data accompanying the report may steal all the attention, letting the aussie to recoup more lost ground. Between a rock and a hard place The global economy is between a rock and a hard place in the absence of [..]

US retail sales and industrial output to be slammed by coronavirus – Forex News Preview

Posted on April 14, 2020 at 2:05 pm GMT

The COVID-19 pandemic has already had a devastating impact on the US labour market and the next data to get the virus treatment are retail sales and industrial production. Both are due on Wednesday at 12:30 GMT and 13:15 GMT, respectively. The virus outbreak may have been dominating the headlines since January but the hard data for countries other than China have only now started coming in. Thus, can the latest bout of market optimism prevail, or will the dire [..]

Week Ahead – China to reveal virus damage on GDP as markets cling onto optimism

Posted on April 10, 2020 at 11:57 am GMT

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. The data could either spread misery or provide a glimmer of hope to those countries still heavily stricken by the coronavirus. US indicators will also be scrutinized as March numbers for retail sales and industrial production are released. But aside [..]

Pound wobbles but steadier as Johnson still in intensive care – Forex News Preview

Posted on April 8, 2020 at 3:03 pm GMT

The pound has bounced back from the lows it brushed soon after news broke that the UK prime minister, Boris Johnson, has been moved to intensive care a day after being hospitalized for continuing to show symptoms of the coronavirus. Johnson spent a second night in intensive care on Tuesday but the latest is that his fever has eased, meaning the pound’s immediate downside risk has also subsided. However, with the prospect of the prime minister being out of action [..]

Loonie in the centre as Canadian jobs data and OPEC+ meeting loom – Forex News Preview

Posted on April 8, 2020 at 12:16 pm GMT

Canada is next in line, after the US, to publish a devastating jobs report thanks to the extraordinary Covid-19 lockdown. The report, due out on Thursday at 12:30 GMT, could pressure the loonie, though the size of volatility could largely be determined by the delayed OPEC+ video conference that is scheduled to take place on the same day at 14:00 GMT. Employment forecasts According to forecasts Canada is expected to see a historical reduction of 350k in new employment in March after a 30.3k increase [..]

US jobless claims to show pain, but dollar might like that – Forex News Preview

Posted on April 8, 2020 at 10:26 am GMT

In America, the spotlight will be on Thursday’s weekly jobless claims and consumer confidence numbers, which will reveal how quickly unemployment is rising and how badly the consumer has been hit. Contrary to conventional wisdom though, a disappointing set of data could boost the US dollar, which has been acting like a safe haven amid all the chaos. The minutes of the latest FOMC meeting today and CPI inflation stats on Friday might be seen as outdated. Unemployment: A tragedy [..]

After foray into QE, RBA to stand pat at April meeting – Forex News Preview

Posted on April 3, 2020 at 12:54 pm GMT

The Reserve Bank of Australia was one of the few central banks among advanced economies that was not dragged into the world of quantitative easing (QE) during the 2008 financial crisis. But having already been bruised by the US-China trade dispute, it was clear the Australian economy would not be as fortunate in the current crisis from the virus pandemic. As had been widely anticipated, the RBA joined the QE club after holding an emergency meeting on March 18. With [..]

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