Forex Previews

UK jobs market resilient in Brexit-hit economy as PM seeks ways to bypass law for extension – Forex News Preview

Posted on September 9, 2019 at 12:39 pm GMT

Labour market data will be watched out of the United Kingdom on Tuesday just as Parliament is suspended again only a week after returning from the summer recess. The employment report, due at 08:30 GMT, comes after today’s data pointed to a small bounce in UK growth in July. But while any upbeat data is supportive of the pound, traders will be looking for progress on the political and Brexit front before adjusting their long-term outlook for the currency. UK [..]

Week Ahead – ECB stimulus eyed; China trade and US retail sales data in focus too

Posted on September 6, 2019 at 1:26 pm GMT

The European Central Bank’s policy meeting will be the focal point for traders next week as expectations are running high that a large stimulus package is on the way. But as the ECB takes action to boost flagging Eurozone growth, key indicators out of China, Japan, the United Kingdom and the United States will also be on the radar as investors seek clues about policy easing elsewhere. Chinese trade figures and US retail sales will be the main highlights from [..]

US NFP jobs report to stay healthy but Fed will cut rates anyway – Forex News Preview

Posted on September 3, 2019 at 3:41 pm GMT

The next Nonfarm payrolls (NFP) release is on Friday at 1230 GMT and expectations are for a weaker but still consumption-supportive outcome. However, with global risks heightening in the background, markets believe that the labor market could soon falter in front of a tougher US-China trade war, opening the window wider for additional monetary stimulus. According to analysts, the US economy added 159k new job positions in August compared to a 164k increase in July and a 193k rise in June. Although softer readings [..]

Bank of Canada seen holding rates after robust GDP growth – Forex News Preview

Posted on September 3, 2019 at 10:28 am GMT

The Bank of Canada meets on Wednesday for its scheduled policy decision and will announce the outcome at 14:00 GMT. Speculation has been rife about when the BoC will shift to an easing bias as it remains one of the few central banks among advanced economies that has not cut interest rates or signalled one. But with the latest data suggesting its full steam ahead for the Canadian economy, market odds for an end of year rate cut have receded [..]

RBA to leave room for thought on Tuesday – Forex News Preview

Posted on September 2, 2019 at 4:29 pm GMT

Australia is caught in the middle of the Sino-US trade war and although conditions seem to be getting worse rather than better, clouding the country’s economic outlook, the Reserve Bank of Australia is not expected to deliver further monetary easing when it announces its rate decision on Tuesday at 0430 GMT. The pause, however, could be only temporary. Its tied trade relations with China makes the commodity-linked Australian economy quite vulnerable to the Sino-US trade war and despite cutting interest rates twice this summer by 25bps, [..]

Week Ahead – Aussie Q2 data, RBA and BoC meetings, US jobs report and Brexit to make for a busy week

Posted on August 30, 2019 at 1:05 pm GMT

As the summer draws to a close, it will begin to get a little more heated in forex markets as a combination of central bank meetings, key releases and political risks look set to jump start the Autumn trading season. A raft of data out of Australia next week as well as an RBA policy meeting will keep aussie traders glued to their desks, though the Bank of Canada could steal the limelight as it ponders whether to make a [..]

Eurozone inflation prints due ahead of Draghi’s ‘last hurrah’ – Forex News Preview

Posted on August 29, 2019 at 11:58 am GMT

The euro area’s preliminary CPI data for August will hit the markets at 09:00 GMT on Friday, and forecasts suggest that inflationary pressures remain muted. Another weak set of data could amplify expectations for an aggressive stimulus package by the ECB in September, keeping the euro under pressure. The big picture for the single currency is dark too, as the trade war combined with Brexit worries have brought the European economy to the brink of recession. The Eurozone seems to [..]

Canadian growth probably rebounded in Q2; unlikely to solve mystery about BoC’s next move – Forex News Preview

Posted on August 28, 2019 at 2:58 pm GMT

Canada will publish GDP growth numbers for the second quarter on Friday at 12:30 GMT. After a recent run of stronger-than-anticipated releases, the growth figures are not expected to buck the trend and should confirm the healthy state of the economy right now. However, with markets panicking about the fallout of the US-China trade war, Canada is not excluded from the predictions about an impending recession. This is evident in the exchange rate where the Canadian dollar is trading near [..]

US core PCE inflation of little interest as a rate cut looks a done deal – Forex News Preview

Posted on August 28, 2019 at 2:37 pm GMT

Trade policy is not the Fed’s responsibility, but inflation definitely is, and the US central bank will act appropriately to elevate its favorite price measure back to its target. On Friday at 1230 GMT, July’s core PCE index will likely call for further monetary easing. The dollar, though, may shrug off the data and keep the focus on trade headlines as a rate cut is fully priced in by the markets. Speaking at the Jackson hole annual symposium, Fed chair [..]

Australian capex data eyed as trade war flares up – Forex News Preview

Posted on August 27, 2019 at 12:35 pm GMT

The ever-escalating trade conflict between Washington and Beijing has left deep scars on the aussie, both directly by clouding the outlook for Australia’s export-heavy economy and indirectly by making the RBA slash rates twice this year already. The nation’s capital expenditure data for Q2 may distract investors on Thursday at 01:30 GMT, but the bigger driver for the currency will be how the trade war evolves – and things aren’t looking good on that front. The aussie has been one [..]

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