Forex Previews

US retail sales may get sidelined amid political woes – Forex News Preview

Posted on October 14, 2020 at 11:11 am GMT

The US calendar will get busier at the end of this week amid a turbulent presidential campaign and a fiscal stimulus drama. But among all data, the focus will be on retail sales for September released Friday at 12:30 GMT. Particularly, markets would like to find out how household spending in the world’s biggest economy is progressing during the present coronavirus conditions, but the results may not paint a rosy picture. The reduced $300 weekly unemployment benefit which Trump extended [..]

Australian unemployment data to shed light on recovery – Forex News Preview

Posted on October 13, 2020 at 2:25 pm GMT

September’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT as the Australian economy is in recession as a result of the Covid-19 pandemic – its first recession in almost 30 years. Stronger figures in employment may provide some relief to the domestic currency, helping it to surpass the two-year high. Unemployment figure predicted to slow down In the previous release, the unemployment rate unexpectedly fell to 6.8% in August from a near 22-year high of 7.5% [..]

Week Ahead – Hopes of a Democratic sweep propel markets higher

Posted on October 9, 2020 at 1:20 pm GMT

It’s been a wild week for global markets, which defied the gloom after President Trump halted the negotiations for another relief package to focus instead on the rising odds of a decisive Biden victory that could bring much greater stimulus after the election. This will likely remain the dominant theme for the dollar and equities for now, with economic data being overshadowed by incoming election polls. Meanwhile, the earnings season resumes, Brexit talks continue, and it seems like the second [..]

Canada’s jobs report to defy second wave of Covid-19– Forex News Preview

Posted on October 7, 2020 at 2:45 pm GMT

The Canadian dollar is gaining some ground against the US dollar with weak momentum as investors are waiting for the employment report on Friday at 1230 GMT. It’s noteworthy that the currency is moving up despite recording the highest single-day increase in Covid-19 cases since the pandemic began, on Monday. Stronger figures in employment may provide some relief to the domestic currency, helping it surpass the two-week high. A reduction in unemployment is expected In the previous release, the unemployment rate in Canada decreased to 10.2% in August from 10.9% [..]

ECB minutes may expose rift over stimulus programme – Forex News Preview

Posted on October 7, 2020 at 12:19 pm GMT

The European Central Bank will publish the minutes of its September policy meeting on Thursday at 11:30 GMT as policymakers find themselves increasingly under the spotlight for their diverging views. Differences over the deflationary impact of a stronger euro and how the pandemic asset purchases are conducted have been sending conflicting signals about where the ECB stands on these issues, casting doubt on the Bank’s ability to respond effectively should another round of stimulus be required. In the meantime, the [..]

Pound may shrug off data as Brexit and Covid are back on the menu – Forex News Preview

Posted on October 6, 2020 at 3:02 pm GMT

The British pound will see the release of monthly GDP figures for August on Friday at 07:00 GMT along with manufacturing production. Traders will be looking for clues on whether the third quarter has been more constructive for the economy after a disastrous performance in the previous two quarters. However, the data may not be fully representative of current conditions and hence could be a weak market mover as Covid infections are making a second round. Brexit and the dollar’s [..]

Fed minutes: Shedding light on the next move – Forex News Preview

Posted on October 6, 2020 at 11:05 am GMT

The developments around a new stimulus package and Trump’s health will likely overshadow everything else this week, but as far as scheduled releases go, the main event will be the minutes of the latest FOMC meeting at 18:00 GMT Wednesday. This was when the Fed adopted its new inflation overshoot regime and markets will be looking for hints on whether more stimulus is in the pipeline. They are unlikely to find any, which may briefly boost the dollar. From ‘all [..]

RBA to hold off on rate cut for now but could flag future move – Forex News Preview

Posted on October 2, 2020 at 1:49 pm GMT

The Reserve Bank of Australia meets on Tuesday for its latest policy decision, with an announcement expected at 03:30 GMT. Having clearly signalled at its previous meeting that the Bank is planning to stay on hold for the foreseeable future, markets were caught by surprise from recent dovish comments by Deputy Governor Guy Debelle. The Australian dollar tumbled in response as short-dated Australian government bond (AGB) yields slipped. But investors are not fully convinced that further easing is imminent as [..]

Week Ahead – Fed, ECB minutes to steer markets through brewing election and virus storm

Posted on October 2, 2020 at 10:02 am GMT

September turned out to be a rough month for equities but a good one for haven currencies as reality caught up with a runaway market. As we head into October, that heightened sense of caution looks set to prevail for a while longer amid intensifying anxiety about the US election and doubts about the sustainability of the global recovery. With not a lot on the economic agenda for the next seven days, jittery traders will be hoping that policymakers on [..]

NFP jobs report: The last release before the US election – Forex News Preview

Posted on September 30, 2020 at 1:21 pm GMT

The US will welcome the final quarter of 2020 with the release of the famous Nonfarm payrolls report as markets get into election mode. The consensus is that the US labor market continued to head towards pre-Covid levels in early September, with the unemployment rate further easing and new job positions rising at a softer pace. While this could be considered normal, the numbers arrive at a crucial time and will be the last update before the US election, exposing the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.