Forex Previews

Canadian inflation expected to fall back in June, confirm temporary bounce – Forex News Preview

Posted on July 16, 2019 at 6:44 am GMT

Canada will publish June inflation data on Wednesday at 12:30 GMT as well as retail sales numbers for May on Friday, also at 12:30 GMT. Following, the Bank of Canada’s surprisingly overcautious tone at the last policy meeting, investors will be watching to see if the upcoming data support the Bank’s view that the recent uptick in growth and inflation is temporary. However, that may still not be enough to halt the Canadian dollar’s advance against the US dollar, which [..]

New Zealand inflation may leave door open for monetary easing – Forex News Preview

Posted on July 15, 2019 at 1:16 pm GMT

The Reserve Bank of New Zealand (RBNZ) has clearly stated in June that further monetary easing might be needed over time to help the central bank to meet its inflation and employment objectives. On Monday at 2245 GMT the Consumer Price Index (CPI) report is likely to show that inflation has heated up in the second quarter, but not sufficiently to scrap the need for more stimulus. The headline CPI is forecast to rebound from 0.1% to 0.6% quarter-on-quarter in the April-June [..]

US retail sales in focus as Fed ponders next move – Forex News Preview

Posted on July 15, 2019 at 10:20 am GMT

Retail sales numbers out of the United States will be scrutinized on Tuesday as investors try to keep alive hopes of a 0.50% rate cut by the Fed later this month. The retail sales data will be published at 12:30 GMT and will be followed by industrial production figures at 13:15 GMT. With the Fed July meeting fast approaching, the data could determine whether policymakers decide to go for a 25-basis points reduction, or a steeper 50-bps cut. The dollar [..]

Week ahead – Flurry of key data eyed as markets digest Powell’s cautiousness

Posted on July 12, 2019 at 11:45 am GMT

After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces of the puzzle before the next Fed meeting. Inflation stats from New Zealand and Canada are also on tap, with some UK data perhaps attracting [..]

China’s Q2 GDP growth to pave way for more stimulus – Forex News Preview

Posted on July 11, 2019 at 3:50 pm GMT

GDP growth accompanied by industrial production, retail sales and urban investment readings will be out of China on Monday at 0200 GMT. Given the cloudy conditions on the trade front, the data are expected to reinforce speculation that extra stimulus may be needed to stabilize the economy in the coming months. The last time the Chinese economy picked up steam was in the first quarter of 2017 when expansion topped at 6.9% on a yearly basis. Since then, GDP growth has been [..]

China’s export data to shed light on trade war damage – Forex News Preview

Posted on July 10, 2019 at 9:06 am GMT

Trade figures from the world’s second-largest economy will be released early on Friday, with forecasts pointing to a modest contraction in both exports and imports. Markets will scrutinize exports in particular, for any signs of damage from the recent escalation in the trade war. Besides the yuan, the China-sensitive aussie could also react to these data. The trade ‘ceasefire’ between the US and China that was agreed in late June was greeted with relief in the markets, as it at [..]

All eyes on Powell’s testimony in huge week for dollar – Forex News Preview

Posted on July 9, 2019 at 11:43 am GMT

It will be a pivotal week for the dollar. Fed chief Jay Powell will testify before Congress on Wednesday at 14:00 GMT, and the minutes from the latest FOMC meeting will be released at 18:00 GMT. The nation’s inflation data for June will follow on Thursday at 12:30 GMT. The risks around the dollar seem tilted to the upside this week, as Powell may push back against expectations for a July rate cut. Overall though, the outlook for the greenback [..]

UK growth likely bounced back in May but rising risks to keep pound on backfoot – Forex News Preview

Posted on July 9, 2019 at 10:50 am GMT

UK data will dominate Wednesday’s economic releases as the latest indicators on GDP growth, industrial output and trade are due to be published. The numbers, out at 08:30 GMT, will be watched for a possible rebound in growth during May following a dismal April. But even if economic output did bounce back in May, the latest PMI data suggest more pain is on the way for the British economy, casting a shadow over the pound’s near-term outlook. UK output expected [..]

BoC meeting: Staying neutral in a dovish world – Forex News Preview

Posted on July 8, 2019 at 2:41 pm GMT

The Bank of Canada (BoC) is expected to stand pat when it wraps up its policy meeting at 14:00 GMT on Wednesday. Given the streak of strong data, policymakers could maintain a relatively sanguine tone, highlighting that rates are unlikely to be cut or raised anytime soon. With other major central banks preparing to ease, a neutral BoC would argue for a stronger loonie overall. The Canadian economy has been performing better than most other developed nations lately. The labor [..]

Week Ahead – BoC meeting eyed as loonie rallies; UK and Chinese data in focus amid slowdown fears

Posted on July 5, 2019 at 10:12 am GMT

Economic releases will be somewhat sparser in the coming week but there will be several key data to keep an eye on as well as central bank activity that could shape expectations of future monetary policy. The Bank of Canada meets for its latest policy decision and will probably resist making a dovish tilt, while the minutes of the Federal Reserve’s and the European Central Bank’s last policy meetings will be watched for clues on their upcoming decisions later this [..]

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