Forex Previews

Loonie turns to Canadian Q3 GDP to halt slide – Forex News Preview

Posted on November 29, 2018 at 10:02 am GMT

The Canadian dollar has slid about 4% since the beginning of October on the back of the sell-off in crude oil – Canada’s biggest export earner. The currency’s weakness comes despite a mostly solid run of economic indicators out of Canada in recent months, which has allowed the Bank of Canada to pursue a monetary tightening path. Investors will therefore be watching Friday’s third quarter GDP release, due at 13:30 GMT, for clues as to how soon the next BoC [..]

Aussie eyes Chinese PMIs and Trump-Xi meeting – Forex News Preview

Posted on November 29, 2018 at 8:37 am GMT

Chinese official PMI data for November are due on Friday at 0100 GMT. Aussie traders will be eyeing the numbers given Australia’s China-dependency, which has rendered the currency a liquid proxy for Chinese “plays”. More pivotal for the Aussie though is likely to be the outcome of the Trump-Xi weekend meeting on trade at the G20 summit. The manufacturing PMI, which is expected to attract the lion’s share of attention on Friday, is projected to remain at 50.2 in November, its lowest since July 2016. On [..]

Eurozone flash CPI eyed as risks loom – Forex News Preview

Posted on November 28, 2018 at 9:04 am GMT

Besides the Italian budget story and Brexit, preliminary inflation readings out of the Eurozone are highly likely to spark volatility in the euro this week, affecting opinion about whether a rate hike by the European Central Bank is appropriate next year. The report is due on Friday at 1000 GMT, with investors estimating some weakness in the headline Consumer Price Index (CPI). On the other hand, the core measure is expected to gain momentum, though within a familiar field. [..]

Aussie looks to domestic data for support amid ongoing market rout – Forex News Preview

Posted on November 27, 2018 at 3:38 pm GMT

The Australian dollar ended three weeks of strong gains last week and is possibly headed for a second weekly loss as market sentiment takes another turn for the worse. But as trade tensions rage on and Chinese growth slows, the Australian economy is enjoying strong growth and rising employment. The focus over the next week will be on how well the fundamentals stood up during the third quarter. The raft of Q3 indicators will start on Wednesday with construction work [..]

FOMC minutes, US data, and speeches by Fed officials to drive dollar – Forex News Preview

Posted on November 26, 2018 at 3:29 pm GMT

This week promises to be an entertaining one for the dollar, as the minutes from the latest Fed gathering, several speeches by influential FOMC members, and a raft of key US economic data will probably keep traders on the edge of their seats. To top it all off, the week concludes with the Trump-Xi Jinping meeting in Argentina, which may also impact the greenback via the risk sentiment channel. The past weeks have seen a notable repricing of Fed [..]

Week Ahead – Brexit and G20 summits to take centre stage; Fed also under the limelight

Posted on November 23, 2018 at 1:51 pm GMT

European and world leaders’ summits preceding and concluding the upcoming week will be the most closely watched events as the market tone will be tied to how much progress is made with Brexit arrangements and in easing Sino-US trade tensions. The Federal Reserve will also be attracting plenty of attention as several policymakers, including Chairman Powell, are scheduled to speak. In terms of economic indicators, Australian quarterly business expenditure, Canadian Q3 GDP and US PCE inflation will be the highlights. [..]

Canadian inflation and retail sales due as loonie tests trendline – Forex News Preview

Posted on November 23, 2018 at 9:22 am GMT

Canada’s latest inflation and retail sales figures will hit the markets on Friday at 1330 GMT. Investors appear rather confident the BoC will raise rates again in January, and an overall strong set of prints could solidify such expectations further, perhaps helping the battered loonie to recover some lost ground. That said, until oil prices stabilize, any rebounds in the loonie may remain short-lived. Canadian inflation as gauged by the Consumer Price Index (CPI) is expected to have risen by [..]

Eurozone PMIs to signal even more dovish ECB? – Forex News Preview

Posted on November 22, 2018 at 3:02 pm GMT

November’s eurozone flash manufacturing and services PMIs, as well as the composite measure that blends the two sectors, are due on Friday at 0900 GMT. The prints are not expected to reflect a pickup in euro area economic activity during Q4, while another disappointment in the figures will likely spur speculation for a relatively dovish ECB during its December meeting. Such an outcome would be euro-negative, to state the obvious. Analysts’ preliminary estimates call for the manufacturing PMI to remain at 52.0 in [..]

ECB minutes eyed as Eurozone growth remains sluggish, but euro perks up – Forex News Preview

Posted on November 21, 2018 at 10:20 am GMT

The European Central Bank will publish the account of its October 25 monetary policy meeting on Thursday at 12:30 GMT. With the Eurozone economy stuck in the doldrums, investors will be watching for any hint of misgivings by Governing Council members about the bank’s policy normalization plans. In the meantime, though, the euro has managed to find some reprieve from a weaker US dollar to recover around the $1.14 handle. As a rebound in Eurozone growth momentum becomes ever more [..]

Japanese inflation to hold steady in October as BoJ frets about banks’ profits – Forex News Preview

Posted on November 20, 2018 at 3:26 pm GMT

Inflation numbers are due out of Japan on Thursday (Wednesday, 23:30 GMT), with the core CPI rate anticipated to have held steady in October. But as the annual rate of inflation creeps up towards the Bank of Japan’s 2% target at a snail’s pace, the central bank is growing increasingly uneasy about the impact of its negative interest rate policy on the country’s financial system. There’s likely to be little encouraging news on the inflation front for policymakers on Thursday [..]

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