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Forex News – Euro slips on wary ECB, disappointing data

Posted on March 30, 2017 at 1:30 pm GMT

The euro came under pressure today following reports that the European Central Bank is not yet prepared to change its easing bias, while disappointing Eurozone business confidence data also weighed on the single currency. A Reuters report on Wednesday suggested ECB Governing Council members are backtracking from the more optimistic language they’ve been using since the March policy meeting on fear that the markets are interpreting this as a sign that the central bank will soon start to withdraw its [..]

Forex News – Pound pressured as uncertainty looms following official launch of Brexit talks

Posted on March 29, 2017 at 2:42 pm GMT

The negotiating period for Britain to exit the European Union and end 44 years of membership officially commenced after the Article 50 letter was signed by UK Prime Minister Theresa May and was delivered today to EU Council President Donald Tusk by the UK’s ambassador to the EU, Tim Barrow. Article 50 of the Treaty of Lisbon became law in December 2009 and stipulates that “any EU Member State may decide to withdraw from the Union and it basically provides a path [..]

Forex News – Dollar close to erasing post-election gains after Trump healthcare bill fails

Posted on March 27, 2017 at 11:18 am GMT

The US dollar rally suffered a major setback on Friday after the Trump administration failed in its attempts to repeal and replace Obamacare – a key election pledge. Having postponed the vote on the American Health Care Act from Thursday to Friday, House Republican leaders decided to pull the bill after it emerged that there was not enough support from within the Republican Party to ensure that the legislation would pass. The vote was viewed by the markets as the [..]

Forex News – Euro rallies on strong Ifo numbers and German CDU election win

Posted on March 27, 2017 at 10:50 am GMT

Upbeat news out of Germany today gave the euro an added boost. Business morale in the Eurozone’s largest economy rose to a six-year high in March. This was a big surprise considering recent concerns over the rise of nationalism across Europe but it appears that political issues have not affected German business sentiment. Meanwhile, news of the CDU victory in German regional elections in Saarland over the weekend boosted Chancellor Angela Merkel’s chances of winning the September 24 federal elections. The [..]

Week Ahead – Investors on alert for Brexit trigger; Japanese and US data to be watched

Posted on March 24, 2017 at 4:12 pm GMT

Data out of Japan and the United States will be the main items on next week’s economic calendar but markets will likely be more preoccupied with the UK formally opening Brexit negotiations with the European Union. Other highlights next week include Eurozone flash CPI and business surveys. UK set to finally invoke Article 50 The long-awaited triggering of Article 50 of the Lisbon Treaty by the UK government on March 29 could cause fresh jitters in financial markets or may [..]

Forex News – Sterling jumps as UK February retail sales data show strong growth

Posted on March 23, 2017 at 12:02 pm GMT

UK retail sales rose in February by 1.4% month-on-month, beating expectations of a 0.4% increase, reversing January’s revised 0.5% drop. February’s rise comes after two straight months of declines in December and January. On a year-on-year basis, sales rose 3.7% in February, up from January’s 1.1% increase. Sterling jumped after the data to briefly hit a fresh one-month high against the dollar at $1.2526 as the February retail sales figure showed fairly strong growth. The pound’s gains were limited as [..]

Forex News – Pound receives major lift after upbeat UK inflation report

Posted on March 21, 2017 at 1:53 pm GMT

Sterling received a boost after above-forecast UK inflation data today, taking it back above the key $1.2400 level against the dollar. Headline CPI accelerated at its fastest pace in more than three years at 2.3% year-on-year in February according to the Office for National Statistics. This was a surprise beat on the 2.1% expected and a sharp rise from January’s 1.8% rate. The measure also shot past the Bank of England’s 2% target. Meanwhile, core CPI ticked up to a [..]

Week Ahead – RBNZ meeting eyed; Fed to remain under the spotlight as speakers lined-up

Posted on March 17, 2017 at 3:44 pm GMT

After an eventful week with central bank meetings and European elections, the next seven days will be relatively quieter. Inflation, retails sales and flash PMI estimates will be the dominant data theme, while central banks will continue to grab attention. The Reserve Bank of New Zealand will meet for its second policy meeting of the year and the Fed will find it hard to stay out of the headlines as key officials are scheduled to speak. UK retail sales to [..]

Forex News – Kiwi drops on weak New Zealand GDP data; RBNZ meeting eyed

Posted on March 16, 2017 at 3:31 pm GMT

The New Zealand dollar came under pressure today following weaker-than-expected GDP data out of New Zealand for the fourth quarter of 2016. The kiwi has fallen sharply since the beginning of February after the Reserve Bank of New Zealand signalled that rates could stay at current levels for at least two years. Today’s GDP data reinforces those expectations and also increases the odds that the RBNZ may cut rates even further from the current record low level of 1.75%. New [..]

Forex News – Australian jobs data casts doubt on RBA’s neutral stance

Posted on March 16, 2017 at 12:23 pm GMT

Australia’s unemployment rate unexpectedly ticked higher in February, casting doubt on the Reserve Bank of Australia’s neutral bias on interest rates. The jobless rate rose to a 13-month high of 5.9% in February, missing estimates that it would stay unchanged at 5.7%. Total employment fell by 6.4k, after rising by 13.5k in January. Expectations were for 16k jobs to be added in February. The underemployment rate, which includes part-time workers seeking full-time jobs in addition to those unemployed, also rose, [..]

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