Forex Previews

UK manufacturers to see a slowdown; UK GDP growth to inch up in July – Forex News Preview

Posted on September 7, 2018 at 2:17 pm GMT

Early this week the IHS/Markit Institute indicated that the British manufacturing industry had slowed down to its lowest expansion rate since July 2016 – July 2016 was just after the Brexit referendum – as the country’s export business contracted for the first time in more than two years despite the weakness in the sterling relative exchange rate. The worrisome numbers have now shifted attention to the UK industrial figures due on Monday which could add further fuel to concerns that Brexit and trade [..]

Week Ahead – ECB and BoE meet but no fireworks expected; China data, Aussie jobs and US inflation eyed too

Posted on September 7, 2018 at 12:13 pm GMT

Monetary policy will be back in focus next week as the European Central Bank and the Bank of England hold policy meetings. However, with both central banks expected to stick to their existing outlook, investors will likely turn to data for fresh direction. The highlights will include employment reports out of Australia and the United Kingdom, US inflation and retail sales figures, and key Chinese economic indicators. GDP numbers from the UK and Japan should also attract attention. Chinese data [..]

Chinese trade data eyed as tensions with the US look set to escalate; Aussie also in focus – Forex News Preview

Posted on September 7, 2018 at 8:44 am GMT

Chinese trade figures for August will be made public on Saturday, with the numbers being scrutinized for any negative effects stemming from US tariffs. Meanwhile, the latest developments in the Sino-US trade spat are also putting the release high on investors’ radar. Elsewhere, attention will also turn to the Aussie due to its status as a barometer of broader risk sentiment, as well as Australia’s China-dependency which has rendered its currency as a liquid proxy for China “plays”. Analysts’ are forecasting [..]

Canadian jobs data due as loonie wrestles with NAFTA worries – Forex News Preview

Posted on September 6, 2018 at 12:27 pm GMT

Employment data out of Canada will be made public on Friday at 1230 GMT, with forecasts pointing to a cooling in the labor market during August. If so, that could cast further doubts on expectations for a BoC rate increase at the October gathering and thereby, bring the loonie under renewed selling interest. Beyond Friday’s data, the currency’s overall direction will also depend on whether the NAFTA talks between the US and Canada bear fruit soon, or not. After the [..]

Swedish krona rises to 2-week high vs euro despite Riksbank and election risks – Forex News Preview

Posted on September 5, 2018 at 3:57 pm GMT

The Swedish krona is the worst performing currency among advanced economies this year and is possibly headed for further losses with two major risk events on the horizon in the next few days. The Riksbank (Sweden’s central bank) will announce its latest policy decision on Thursday at 07:30 GMT and could signal a delay to an anticipated rate hike later this year. Just days later, a general election could see the country entering an era of political uncertainty as mainstream [..]

UK services PMI coming up as sterling continues to languish – Forex News Preview

Posted on September 4, 2018 at 1:57 pm GMT

The British pound continued to feel the heat this week, pressured by fading hopes for a Brexit deal, as well as a disappointing streak of UK economic data. The currency will look towards the August services PMI for some reprieve, due out on Wednesday at 0830 GMT, though it seems doubtful that even a stronger-than-expected print would be enough to lead to a sustained rebound in sterling amid a lack of meaningful progress on the Brexit front. With the Brexit [..]

BoC to hold rates steady but signal October hike? Trade developments another loonie driver – Forex News Preview

Posted on September 4, 2018 at 9:30 am GMT

The Bank of Canada will be deciding on monetary policy this week, with a rate decision being made public on Wednesday at 1400 GMT. The central bank is expected to hold rates steady and proceed with a rate increase during next month’s meeting. Beyond monetary policy, talks to forge a new North American trade pact will resume later in the week, after last week’s fruitless discussions which led the loonie to lose ground versus the US currency, more than giving [..]

RBA decision and GDP data up next for the battered aussie – Forex News Preview

Posted on September 3, 2018 at 2:06 pm GMT

After political drama kept the Australian dollar under pressure over the past weeks, the currency will now turn its sights back to economic developments, with a policy decision by the RBA and updated GDP figures being on tap this week. Some remarks by RBA chief Philip Lowe will also be closely watched. Downside risks linger for aussie/dollar, though a clear break below the 0.7160 area that provided reliable support in the past is needed to reaffirm the downtrend. The Reserve [..]

Week Ahead – Aussie in focus as GDP and RBA awaited; BoC and Riksbank also meet; US jobs report eyed too

Posted on August 31, 2018 at 1:03 pm GMT

The Australian dollar will fall under the spotlight next week as a raft of data is due to be published out of Australia and the Reserve Bank of Australia holds a policy meeting. However, central bank meetings in Canada and Sweden, where near-term policy changes are on the cards, pose bigger risks for traders than the RBA’s. Monthly job reports will also be vying for attention as both the US and Canada release their respective figures for August. Also important [..]

Chinese PMIs coming up with trade concerns still in the background – Forex News Preview

Posted on August 30, 2018 at 9:33 am GMT

Chinese official PMI data for August are due on Friday at 0100 GMT. Manufacturing activity, which is expected to gather the most interest, is anticipated to ease for the third straight month, though to yet again remain in growth territory. Beyond data releases, US-China trade considerations are still at play, with any updates likely to prove market-moving. Figures out of the world’s second largest economy are projected to show manufacturing PMI standing at 51.0 in August, below July’s 51.2 and at its lowest since February. Despite declining in recent months, it [..]

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