Forex Previews

Canada to add modest jobs, loonie may not abandon its bullish trend yet – Forex News Preview

Posted on December 2, 2020 at 9:24 am GMT

In addition to GDP readings, Canada will publish employment data for the month of November on Friday at 12:30 GMT, providing its latest update on the health of its export-oriented economy. Although the numbers may not be exciting, they are not expected to darken the economic outlook either, likely helping the Canadian dollar to maintain balance against its US counterpart. Q4 could send Canada to negative area The reopening of the economy from the initial lockdown in the third [..]

Eurozone deflation, PMI slump point to ECB action, yet euro is soaring – Forex News Preview

Posted on November 30, 2020 at 3:50 pm GMT

The flash prints for November inflation are due out of the Eurozone on Tuesday (10:00 GMT) along with a host of other data that should provide the latest glance on how the economy is faring. The inflation numbers are expected to reveal that the euro area experienced falling prices again in November, while the final PMI readings will probably confirm that business activity shrank during the month. The deteriorating economic conditions come as the euro is flirting with the key [..]

Week Ahead – Data overload may spoil vaccine euphoria; NFP to lead the pack

Posted on November 27, 2020 at 1:14 pm GMT

It’s NFP week and as investors battle the vaccine optimism against the short-term gloom, the latest jobs report from the United States may determine which way sentiment sways next. Canada will also publish jobs numbers along with its Q3 GDP print. The Reserve Bank of Australia, meanwhile, will kick off the December round of central bank meetings. In Europe, flash inflation figures will be watched in anticipation of the ECB’s next move. But amidst the busy economic calendar, it’s Brexit [..]

RBA meeting: A more optimistic take – Forex News Preview

Posted on November 27, 2020 at 12:39 pm GMT

The Reserve Bank of Australia will hold its final meeting for the year at 03:30 GMT Tuesday. Having cut rates last month, no action is expected this time, so the market reaction will depend on the language of the accompanying statement. Economic data have improved lately and vaccines have been announced, so a slightly more optimistic tone may be warranted. That would argue for a positive, but minor, reaction in the aussie. Going all out It took some time, but [..]

Canada’s GDP to bounce back in Q3 but loonie still trails peers – Forex News Preview

Posted on November 27, 2020 at 10:22 am GMT

Canada will post its third quarter GDP figures on Tuesday (13:30 GMT) and like other advanced economies that have reported before it, the North American economy is expected to have rebounded sharply in the summer months. However, with daily coronavirus cases accelerating lately in Canada too, the recovery may have already started to lose steam. Yet, vaccine optimism is bolstering the local dollar, even as it lags behind its aussie and kiwi cousins in the rally against the US dollar. [..]

Australian Q3 capex eyed ahead of GDP data as aussie flies on vaccine news – Forex News Preview

Posted on November 25, 2020 at 9:16 am GMT

The Australian dollar is moving slightly higher against the US dollar over the last month as investors are waiting for the capital expenditure data for the third quarter on Thursday at 00:30 GMT ahead of the GDP figure on December 2. In the meantime, the aussie is forming a positive structure on the back of the positive vaccine news, which have opened up a pathway to a safe Australia, with the first doses set to be distributed to healthcare workers and the elderly by March. Will Capex affect GDP numbers? Capital [..]

Week Ahead – Vaccine euphoria vs lockdown reality

Posted on November 20, 2020 at 12:58 pm GMT

There is not much on the agenda next week, but that doesn’t mean things will be quiet as the battle between longer-term vaccine hopes and the present lockdown reality continues to rage. The highlight on the economic calendar will be the latest PMIs, especially from the Eurozone, which will reveal how much damage the latest lockdowns have inflicted. In America, the latest Fed minutes might be viewed as outdated, so it will be all about infection numbers as more states [..]

Eurozone consumer confidence set for another dip in November – Forex News Preview

Posted on November 19, 2020 at 3:39 pm GMT

The Eurozone will release a flash estimate of its consumer confidence index for the month of November on Friday at 15:00 GMT, likely revealing an extension of October’s decline. The data, however, will not be a big surprise to the euro, but will add more evidence to the existing narrative that the fresh partial lockdown will inevitably pull the bloc back into negative growth in the fourth quarter. Consumer confidence to slip to a six-month low Getting the virus under control needs [..]

UK retail sales likely ground to a halt in October but all eyes on Brexit progress – Forex News Preview

Posted on November 17, 2020 at 2:56 pm GMT

It’s another week and another round of negotiations are taking place between UK and EU officials to try and clinch a deal on a post-Brexit trade agreement. With the transition period set to end on December 31, Thursday’s EU summit is seen as a potential date for a draft text to be agreed upon. But although pound traders remain optimistic, there’s already speculation that the latest “deadline” may slip away, dragging the negotiations into December. In the meantime, Britain’s economic [..]

Australian unemployment expected to rise again ahead of preliminary retail sales – Forex News Preview

Posted on November 17, 2020 at 1:16 pm GMT

October’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT, along with preliminary retail sales figure on Friday at 0030 GMT. The governor of the Reserve Bank of Australia (RBA), Philip Lowe, has confirmed a major shift in Australia’s monetary policy by stating the central bank would now focus on employment rather than inflation. Nevertheless, the aussie continues to move higher against the US dollar but may soon need a boost for stronger bullish movements. [..]

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