Forex Previews

Canadian retail sales and inflation data likely market movers for loonie – Forex News Preview

Posted on January 24, 2018 at 3:30 pm GMT

Canadian retail sales for the month of November are due on Thursday at 1330 GMT. The pace of growth in sales is forecast to slow down after comfortably beating expectations in October. Should another beat be delivered – maintaining positive momentum – then the loonie is expected to receive a boost. On Friday, Canada will also see the release of inflation figures for the month of December. Retail sales are anticipated to expand by 0.7% m/m in November. This compares [..]

US GDP could give the battered dollar some reprieve – Forex News Preview

Posted on January 24, 2018 at 2:50 pm GMT

US economic growth is expected to have slowed a little in the final quarter of 2017, but to still remain in healthy territory. However, according to Fed models, there is the prospect for a slightly better reading than what is anticipated. With the implied probability for a Fed hike in March resting at 73%, a positive surprise in GDP could seal the deal for such an action, and perhaps help the dollar to regain some poise. The first estimate of [..]

Eurozone’s PMIs could maintain positive momentum in January – Forex News Preview

Posted on January 23, 2018 at 4:13 pm GMT

Eurozone businesses had their best annual performance in 2017 according to IHS Markit as December’s survey results surprisingly smashed even the most optimistic forecasts, hinting that growth could be more persistent. Despite this, initial estimates for January due on Wednesday at 0900 GMT suggest that growth in the services and manufacturing industries might come weaker, though the pullback is not anticipated to be strong enough to drive the measures away from recent peaks. While analysts thought that industrial performance in the Eurozone had already reached its highs, with the IHS [..]

New Zealand CPI forecast remains within RBNZ target; Will kiwi continue bullish run? – Forex News Preview

Posted on January 23, 2018 at 2:25 pm GMT

The focus on Thursday will be on New Zealand’s headline consumer price index number at 2145 GMT. New Zealand will release its fourth-quarter of 2017 CPI that is forecasted to show an increase of 0.4% from 0.5% in the previous quarter. Also, the attention will turn on the kiwi as there is plenty of room for a surprise if the release beats expectations. Consumer prices in New Zealand ticked higher to 1.9% year-on-year in the third quarter from 1.7% in the prior period and for the Q4 is [..]

Will UK jobs data boost or temper sterling’s rally? – Forex news preview

Posted on January 23, 2018 at 1:49 pm GMT

UK employment data for November are due to be released on Wednesday at 09:30 GMT. Looking simply at economic forecasts, one may be tricked into thinking this data set represents little risk for sterling, as every indicator is projected to remain unchanged. The unemployment rate is forecast to have held steady at 4.3%, while average weekly earnings (both including and excluding bonuses) are anticipated to have grown at the same pace as previously. What will markets focus on? Assuming the [..]

Caution ahead of ECB meeting; Will Draghi talk down the euro? – Forex News Preview

Posted on January 23, 2018 at 11:07 am GMT

The European Central Bank holds a two-day monetary policy meeting this week with its first policy decision of the year due at 12:45 GMT on Thursday. Following surprisingly hawkish minutes of the December meeting and a series of data beats, expectations have risen that the ECB will end its asset purchase program (APP) when the current one expires at the end of September 2018. However, a stronger euro could pose a threat to the Eurozone’s improving growth and inflation outlook, [..]

BoJ to remain on hold; all eyes on Kuroda – Forex news preview

Posted on January 22, 2018 at 1:34 pm GMT

The Bank of Japan (BoJ) will announce its policy decision during the Asian morning on Tuesday. No change in policy is expected and as such, focus will probably turn to Governor Kuroda’s press conference for any signals on whether the Bank is considering to alter its ultra-loose framework, as has been speculated recently. With inflation still far away from its target though, the BoJ chief may push back against such expectations. Speculation that the BoJ may be getting ready [..]

Week Ahead – All eyes on BoJ and ECB; First glimpse of UK and US Q4 GDP

Posted on January 19, 2018 at 3:48 pm GMT

The Bank of Japan and the European Central Bank will follow in the footsteps of the Bank of Canada to hold their first policy meetings of 2018 in the next seven days. With speculative trade on the timing of the eventual stimulus withdrawal by both central banks driving the euro and the yen higher over the past couple of weeks, markets will be ultra-sensitive to the language spoken by policymakers. Economic data will also be at the forefront next week [..]

UK retail sales the next risk event for sterling – Forex News Preview

Posted on January 18, 2018 at 2:34 pm GMT

UK retail sales data for December are due for release at 0930 GMT on Friday, with forecasts pointing to a tumble in monthly terms, but a rebound on a yearly basis. The actual prints could show whether the squeeze in real incomes continues to weigh on consumer spending, and may go a long way in determining whether the BoE will take action anytime soon. UK retail sales have been on a weakening path for over a year now, something [..]

Australian Employment Report eyed for rate clues as aussie hits 4-month high – Forex News Preview

Posted on January 17, 2018 at 10:44 am GMT

Australia’s employment report for December is likely to attract attention and is scheduled for release on Thursday at 0030 GMT. The unemployment rate is forecasted to remain unchanged at 5.4% for the month of December, while the employment change is expected to show that the economy added 9000 jobs, much less from the previous month. Meanwhile, the participation rate is predicted to tick marginally lower to 65.4% in December from 65.5% before. Could a stronger than expected employment data affect the local currency? [..]

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