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Can a neutral BoC push the loonie over the finish line? – Forex News Preview

Posted on October 29, 2019 at 4:33 pm GMT

The Bank of Canada (BoC) will announce its latest decision at 14:00 GMT on Wednesday. No action is expected as the domestic economy remains solid, taking very little damage from the US-China trade war. Policymakers are likely to stick to their neutral message, downplaying the chances of any rate move in the coming months, which may help the loonie cement its status as the best performing major currency this year. That said, any significant upside may be difficult to come [..]

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Fed to cut rates but a pause may follow; dollar also eying US GDP and consumption data – Forex News Preview

Posted on October 29, 2019 at 3:19 pm GMT

The US Federal Reserve is set to announce its third straight rate cut on Wednesday (1800 GMT) but Fed chief Jerome Powell could signal in his press conference (1830 GMT) this may be the last one for now. Third quarter GDP growth figures may provide some clues as to whether a pause is on the cards when they’re released a few hours earlier at 1230 GMT. But with plenty more US data on the way in the next few days, [..]

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Australian Q3 inflation to stay below RBA target; may point to another rate cut – Forex News Preview

Posted on October 29, 2019 at 10:15 am GMT

Inflation data for the third quarter is due out of Australia on Wednesday (0030 GMT) and will be watched closely as it could determine whether the Reserve Bank of Australia will decide to cut interest rates again next month. The RBA cut interest rates for the third time in October and so tepid inflation numbers would indicate the Bank is far from done in its easing cycle. Any disappointing reading is bound to drag on the Australian dollar, which is [..]

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Week ahead – Fed to cut rates, will BoJ follow? US payrolls on the menu too

Posted on October 25, 2019 at 12:49 pm GMT

There’s a barrage of crucial events coming up next week, with three major central bank meetings and an avalanche of economic data set to dominate the agenda. The Fed is almost certain to cut rates again, but may signal that the bar for any further action is high. The Bank of Japan is a wild card – it’s a close call whether it will cut too or wait a little longer. In Canada, the BoC will probably maintain a neutral [..]

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US durable goods data due as Fed prepares to cut again – Forex News Preview

Posted on October 23, 2019 at 9:44 am GMT

The latest US durable goods orders, a proxy for capital expenditure, are due out on Thursday at 12:30 GMT. The preliminary Markit PMIs for October will follow a few minutes later. While important, these are unlikely to change the narrative around the Fed, or the dollar. Much of the greenback’s direction will frankly depend on other currencies, mainly on the pound and euro, which may still have some room to advance as Brexit risks fade. That said, a not-so-dovish rate [..]

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ECB meeting: Draghi’s farewell to arms – Forex News Preview

Posted on October 22, 2019 at 1:35 pm GMT

The European Central Bank (ECB) will announce its decision on Thursday at 11:45 GMT, and a press conference will follow at 12:30 GMT. This will be the final meeting under President Mario Draghi, before Christine Lagarde takes over. No action is expected, so any market reaction will come from the hints on future easing. Given deep divisions within the ECB about more stimulus and a calmer global environment, policymakers are unlikely to signal more action for now, so the euro [..]

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ECB meeting: Draghi’s farewell to arms – Forex News Preview

Posted on October 22, 2019 at 1:33 pm GMT

The European Central Bank (ECB) will announce its decision on Thursday at 11:45 GMT, and a press conference will follow at 12:30 GMT. This will be the final meeting under President Mario Draghi, before Christine Lagarde takes over. No action is expected, so any market reaction will come from the hints on future easing. Given deep divisions within the ECB about more stimulus and a calmer global environment, policymakers are unlikely to signal more action for now, so the euro [..]

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Canadian retail sales to continue rebound in August; loonie braces for election results – Forex News Preview

Posted on October 21, 2019 at 3:46 pm GMT

Retail sales numbers for August are due out of Canada on Tuesday at 12:30 GMT. However, traders are likely to be more preoccupied with the outcome of Monday’s federal election in Canada where the incumbent prime minister, Justin Trudeau, is in a closely fought race with his Conservative rival, Andrew Scheer, with the two parties neck-and-neck in the polls. The Canadian dollar has been buoyed recently, rallying to 3-month highs versus the US dollar, as trade war and Brexit worries [..]

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Week Ahead – Draghi’s last ECB meeting and Brexit vote to headline muted data week; flash PMIs eyed too

Posted on October 18, 2019 at 11:59 am GMT

It will be relatively quiet on the data front in the coming week with just a handful of top-tier releases, but Mario Draghi’s last ever policy meeting at the helm of the European Central Bank should make for an interesting week. The ECB meeting will not be the only policy gathering in Europe as the Swedish and Norwegian central banks will also be setting monetary policy. Brexit, meanwhile, will remain centre stage as a rejected deal could greet traders on [..]

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China’s GDP growth may not be bright in Q3 as tariffs weigh – Forex News Preview

Posted on October 17, 2019 at 12:14 pm GMT

Trump said that the US and China are in a primary phase of a broader agreement last week, announcing an outline without convincing details on the terms agreed between the sides. While the US President cancelled additional tariffs this month, levies imposed since the start of 2018 remain intact, with analysts anticipating softer Q3 GDP growth readings out of China on Friday at 02:00 GMT. On Tuesday, the People’s Bank of China reported that the money supply grew faster in September through [..]

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