Forex Previews

US jobs expected to bounce back but Fed still likely to cut – Forex News Preview

Posted on July 3, 2019 at 2:59 pm GMT

The latest jobs report out of the United States is expected to hit the headlines on Friday at 1230 GMT. Following last month’s disappointing report, which fuelled expectations that the Federal Reserve will begin cutting rates soon, an anticipated bounce back in the number of jobs added in June could relieve some of the pressure on policymakers to ease policy aggressively. But as investors remain undecided about the degree by which the Fed will lower rates, the US dollar is [..]

Canadian jobs data eyed as loonie flirts with year highs – Forex News Preview

Posted on July 3, 2019 at 2:26 pm GMT

The Canadian employment data for June will hit the markets on Friday at 12:30 GMT. Forecasts point to a relatively soft report, which if confirmed, could take some shine off the loonie. In the big picture though, the outlook for the currency remains bright, as the Bank of Canada (BoC) may be the only major central bank that won’t cut rates soon. The Canadian economy has been an oasis of strength lately, even as the data pulse in most other [..]

Pound under pressure from poor UK PMIs; services PMI up next – Forex News Preview

Posted on July 2, 2019 at 1:25 pm GMT

The services PMI out of the UK will be in focus for pound traders on Wednesday at 0830 GMT. But if the manufacturing and construction PMIs are anything to go by, there’s unlikely to be much to cheer about from June’s services activity report. Growing risks of a disorderly Brexit and signs the UK economy may have contracted in the second quarter have kept the pound on the backfoot since May. UK growth outlook deteriorating fast Things are not looking [..]

As the OPEC meeting concludes, what’s next for oil? – Commodity News

Posted on July 1, 2019 at 3:45 pm GMT

The Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna, and the latest headlines suggest a nine-month extension of the existing production cuts is nearly certain. With OPEC’s output plans now clear, oil prices will take their cue from how the US-China trade talks and the situation with Iran unfold. Trade optimism may keep crude supported for now, with the risk of a corrective pullback increasing drastically if the talks show no real signs of progress later in the [..]

RBA expected to cut rates again as aussie hits 2-month high – Forex News Preview

Posted on July 1, 2019 at 9:43 am GMT

The Reserve Bank of Australia is widely anticipated to lower its cash rate for the second straight meeting when it announces its next policy decision at 0430 GMT on Tuesday. After cutting rates for the first time in nearly three years in June, the RBA is expected to ease policy again amid a cooling global economy and increased uncertainties stemming from trade and geopolitical tensions. But despite strong signals from policymakers that more rate cuts are likely, the Australian dollar [..]

US ISM manufacturing PMI to extend slowdown but eyes on G20 summit– Forex News Preview

Posted on June 28, 2019 at 3:11 pm GMT

The manufacturing sector is remarkably important for the America’s technology and innovation leadership but also for the jobs market and thus any negative warning about the sector is a headwind to the economy and consequently to the dollar. The problem today is that the import tariff barriers imposed by the US government to China and other key economies have opened a can of worms in the industry, persuading the Fed to pause its rate hike campaign this year. On Monday at 1400 GMT, the [..]

Week ahead – Trump finally meets Xi; RBA and OPEC decide ahead of US payrolls

Posted on June 28, 2019 at 12:09 pm GMT

It’s another action-packed week, with the pivotal G20 summit that will decide how risk sentiment develops, finally upon us. Elsewhere, the Reserve Bank of Australia (RBA) is expected to slash rates again, while oil traders will pay close attention to the OPEC meeting. Economic data are not in short supply either, with the US employment report likely to add the final touches to expectations around how deep the Fed will cut in July. Trump-Xi meeting at G20 paramount for risk [..]

Eurozone flash inflation to test euro’s rally ahead of G20 summit – Forex News Preview

Posted on June 27, 2019 at 8:48 am GMT

The euro grabbed the opportunity to recoup some lost ground last week at a time when major central banks including the European Central Bank (ECB) itself are preparing to add a dose of stimulus to the global economy. The rally however may come under test in coming days as the preliminary Harmonized Consumer Price Index (HCPI) report out of the EU on Friday at 0900 GMT could be the next clue on how soon the ECB might act. Trade headlines [..]

US PCE inflation and consumption data eyed as Fed considers whether to cut rates – Forex News Preview

Posted on June 26, 2019 at 10:40 am GMT

The US personal income and outlays report, which features the Fed’s favoured inflation gauge, will be scrutinized on Friday at 12:30 GMT, as speculation about the central bank’s next move reaches fever pitch. Subdued inflation and increased uncertainties about the outlook led the Fed to drop its ‘patient’ stance in June and signal its readiness to “act as appropriate”. But as the Federal Reserve considers its response to the worsening outlook, the US dollar’s recent sell-off is starting to seem [..]

G20 meeting: Trade ceasefire or more hardball? – Forex News Preview

Posted on June 26, 2019 at 9:29 am GMT

G20 summits usually pass without any market reaction, but this time will probably be different, as the American and Chinese leaders are expected to meet to discuss trade. It’s a close call, but an agreement to restart negotiations seems more likely than nothing at all being agreed. If so, that could propel stocks higher, and take some shine off safe havens like the yen, franc, and gold. The G20 conference in Japan will run from Friday through Saturday, and [..]

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