Forex Previews

BoC meeting: Cautious, but less than markets expect – Forex News Preview

Posted on April 22, 2019 at 2:57 pm GMT

The Bank of Canada (BoC) will announce its latest policy decision on Wednesday at 14:00 GMT. No action is expected, so all eyes will be on the accompanying statement, updated forecasts, and Governor Poloz’s tone. Markets seem to expect an overly dovish message, and while the Bank is indeed likely to appear cautious overall, it is unlikely to go as far as abandon its rate-hike plans completely – which generates an upside risk for the loonie. The Canadian economy hit [..]

Week Ahead – US next to report Q1 GDP; BoC and BoJ meet amid growth worries

Posted on April 19, 2019 at 9:31 am GMT

After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central bank meetings to keep traders at their desks. The Bank of Canada and the Bank of Japan will announce their latest policy decisions in the coming days. Aussie looks to [..]

Aussie shifts focus to Australian Jobs data – Forex News Preview

Posted on April 17, 2019 at 1:59 pm GMT

The minutes from the latest monetary policy meeting by the Reserve Bank of Australia underlined the importance of the labor market in setting interest rates on Tuesday, making the Australian employment report due on Thursday at 0130 GMT the next major event for the aussie. After an upsetting 4.3k increase in February, the economy is expected to have created 12k new job positions in March. While, at a first glance, this could be considered as progress, the addition is still among [..]

Euro area PMIs: too early for a substantial rebound? – Forex News Preview

Posted on April 17, 2019 at 12:59 pm GMT

The Eurozone’s preliminary PMIs for April are due on Thursday at 08:00 GMT and forecasts point to a rebound, albeit only a modest one. Make no mistake, these are the most important figures for the euro right now, and any substantial surprise will likely dictate the currency’s near-term direction. Alas, a major upside surprise seems somewhat unlikely for now. After a long period of being largely ignored by the market, the Eurozone’s PMIs have returned with a vengeance in recent [..]

US retail sales expected to bounce back in March after patchy few months – Forex News Preview

Posted on April 17, 2019 at 12:38 pm GMT

Less than a month after the last retail sales report, the US Census Bureau will publish its March release as it plays catchup following the delays caused by the government shutdown. The March retail sales numbers are scheduled for release on Thursday at 1230 GMT. After plunging unexpectedly in December and struggling since then, consumer spending is anticipated to have rebounded substantially in March. Weaker household spending has been evident in most barometers of consumption since November/December, raising alarm bells [..]

Loonie awaits Canadian data as oil rally takes breather – Forex News Preview

Posted on April 16, 2019 at 11:45 am GMT

The loonie has traded sideways lately, as support from a rally in oil prices was offset by growing speculation for rate cuts by the Bank of Canada (BoC). In this context, the inflation data due on Wednesday and the retail sales figures on Thursday could be pivotal for the currency. Overall, downside risks have intensified, so the BoC could strike a more cautious tone when it meets again next week. The Canadian currency has been consolidating in recent weeks, trading [..]

China GDP to slow further in Q1 but recovery could be around the corner – Forex News Preview

Posted on April 16, 2019 at 9:37 am GMT

All eyes on Wednesday will be on China’s growth figures for the first quarter, due at 02:00 GMT, as the world’s second largest economy continues to lose steam. But while China’s GDP growth is expected to have slowed further during the first three months of the year, there are encouraging signs lately that the slowdown is levelling off and a rebound is on the way. After expanding by an annual rate of 6.4% in the final quarter of 2018 – [..]

New Zealand Q1 CPI ahead for the kiwi – Forex News Preview

Posted on April 16, 2019 at 9:17 am GMT

The New Zealand dollar was knocked down in late March when the country’s central bank surprised markets by saying that the next move in interest rates will likely be down rather than neutral. The disappointment following the policy meeting and the lack of clarity about the future of the global economy allowed sellers to take control since then, with the spotlight turning now to NZD inflation to be delivered on Tuesday at 2245 GMT for any new rate signals. According to forecasts, [..]

Slew of UK data eyed as Brexit endgame remains elusive – Forex News Preview

Posted on April 15, 2019 at 12:40 pm GMT

It seems like it will be a quiet week on the Brexit front, so focus may turn back to UK economic data. Employment, inflation, and retail sales figures are due out on Tuesday, Wednesday, and Thursday respectively – all at 08:30 GMT. These may add some volatility to sterling, but the next ‘big move’ in the currency will likely be driven by updates in the Brexit rollercoaster, not economic data. In that sense, long-term upside risks for the pound seem [..]

Week Ahead – China Q1 GDP eyed; inflation data to dominate elsewhere

Posted on April 12, 2019 at 1:44 pm GMT

Markets will take a break from central banks and Brexit news over the coming week as the focus moves firmly onto economic fundamentals. Monthly inflation reports will be the dominant release, followed by retail sales estimates. The latest flash PMIs will also be keenly watched amid tepid signs of a recovery in some parts of the world. But while the upcoming data could prove significant in identifying shifting trends, major FX pairs will likely struggle to break out of their [..]

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