Forex Previews

Aussie awaits RBA’s rate decision but eyes on consumption – Forex News Preview

Posted on December 4, 2017 at 4:40 pm GMT

“If the economy continues to improve as expected, it is more likely that the next move in interest rates will be up, rather than down,” said the RBA Governor, Philip Lowe in his speech at the Australian Business Economists’ annual dinner two weeks ago. But then he immediately highlighted that in the near term, an adjustment in monetary policy is not strongly considered as inflation remains subdued while the economy has still room for growth. Given this statement, RBA policymakers are [..]

Week Ahead – RBA and BoC meet; Aussie GDP and US jobs report eyed

Posted on December 1, 2017 at 4:09 pm GMT

The first week of December will get off to a packed start with a number of key indicators and central bank meetings set to keep traders busy. Among the highlights are Australian GDP figures for the third quarter, European industrial output figures and US nonfarm payrolls. Also in focus are central bank meetings in Australia and Canada. RBA to hold rates as Aussie GDP rebounds The Australian dollar will be under the spotlight next week as a flurry of economic [..]

Japanese core CPI could justify monetary stimulus – Forex News Preview

Posted on November 30, 2017 at 4:34 pm GMT

It’s been almost two years since the Bank of Japan decided to adopt an aggressive monetary stimulus using negative interest rates to end deflation and force price growth up to the central bank’s stability target of 2.0%. However, the BOJ’s preferred inflation measure, the core CPI index which excludes volatile items, showed a slow reaction since the policy implementation, turning positive only in early 2017. Yet, the index was last still well below the target at 0.7% y/y, persuading policymakers to maintain the current ultra-easy [..]

Canadian GDP and jobs report eyed for rate clues as loonie hits one-month low – Forex News Preview

Posted on November 30, 2017 at 12:39 pm GMT

The Canadian dollar is once again on the verge of breaching the 50% Fibonacci retracement level of its impressive May-September uptrend. The currency has been suffering from the paring back of expectations of additional rate hikes by the Bank of Canada over the coming months, concerns about difficult NAFTA renegotiations and a stronger US dollar. After several failed attempts in late October/early November to break this retracement level around C$1.2925 to the greenback, the loonie has been stuck in a [..]

Minor slowdown expected in Chinese manufacturing activity; aussie also in spotlight – Forex News Preview

Posted on November 29, 2017 at 4:03 pm GMT

Chinese official manufacturing and services PMIs for the month of November are due on Thursday at 0100 GMT, while Caixin’s respective measure for the manufacturing sector is scheduled for release on Friday at 0145 GMT. According to analysts’ projections, the official manufacturing PMI will decline to 51.4 in November from October’s 51.6. Despite the ongoing rebalancing in the Chinese economy resulting in the services sector playing an ever more prominent role in terms of contribution to economic activity, the bulk [..]

Strong US data may fail to lift dollar as tax plan concerns weigh – Forex Market Preview

Posted on November 28, 2017 at 4:31 pm GMT

GDP estimates and data on personal consumption expenditures (PCE) are two keenly awaited releases this week in the United States as the December FOMC meeting approaches when a rate hike is widely anticipated. However, the data will likely get overshadowed by the Senate debate on the Republican tax plan, where a vote could come as early as November 30. The US dollar remains vulnerable to negative developments on the tax front but solid economic indicators should provide some support at [..]

Week Ahead – Manufacturing PMIs and inflation data to dominate; OPEC meeting also eyed

Posted on November 24, 2017 at 2:06 pm GMT

After a relatively quiet week, the economic calendar is looking busier for the coming seven days. Manufacturing PMIs will be released in most major economies as the month comes to an end, and inflation measures for the Eurozone, Japan and the United States will also highlight the week. Canada will be in focus too as GDP and jobs figures are published, while the outcome of a meeting of major oil producers will be awaited by commodity traders. Aussie capex eyed [..]

Fed minutes unlikely to move markets, bias in either direction -hawkish or dovish- not to be ruled out though – Forex News Preview

Posted on November 22, 2017 at 3:09 pm GMT

The Federal Reserve minutes of the October 31-November 1 meeting are due at 1900 GMT with investors being on the lookout for any signals on the outlook of monetary policy. Communication by Fed officials has broadly supported the view for an additional rate hike – the third such move this year – to be delivered by the US central bank as it completes its last monetary policy meeting for 2017 on December 13. Consequently, futures markets have almost completely priced [..]

Euro weighed by German political uncertainty, looks to Eurozone flash PMIs for support – Forex News Preview

Posted on November 21, 2017 at 3:55 pm GMT

The euro is once again dogged by political risks as the collapse of the coalition talks in Germany has raised the prospect of months of uncertainty in the Eurozone’s biggest economy. The announcement on Monday of the collapse of the three-way coalition talks between Chancellor Angela Merkel’s party, the CDU/CSU, the pro-business Free Democratic Party (FDP) and the Green party, has driven the euro to a one-week low of $1.1712, shifting the near-term risks for the currency back to the [..]

Dollar set for lacklustre week as focus remains on Senate tax vote – Forex News Preview

Posted on November 20, 2017 at 3:58 pm GMT

There’s expected to be few drivers for the US dollar this week, with investors likely to shrug off data releases and the FOMC minutes ahead of the Thanksgiving holiday, with the focus firmly on the tax plan, which is facing a crucial vote in the Senate. The US Census Bureau will publish its monthly advance report on manufacturers’ shipments, inventories and orders on Wednesday – a closely watched gauge of industrial activity that is seen as a good indication of [..]

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