Forex Previews

Forex News – Moody’s upbeat on G20 growth but warns of geopolitical risks and protectionism

Posted on August 30, 2017 at 12:53 pm GMT

The credit rating agency, Moody’s Investors Service, gave an upbeat assessment of the G20 economies in its latest outlook report on Tuesday. Moody’s says it expects annual growth in the G20 countries to average at just above 3% in both 2017 and 2018, up from the 2.6% seen in 2016. Higher-than-expected growth in the first half of the year in the Asian powerhouses of China, Japan and South Korea, as well as strengthening momentum in the Eurozone has led Moody’s [..]

Forex News – Gold surges, dollar and stocks tumble on latest North Korea missile strike

Posted on August 29, 2017 at 11:09 am GMT

Geopolitical tensions came back to haunt markets today after North Korea fired an unidentified ballistic missile over Japan. The missile flew over the northern Japanese island of Hokkaido before falling into the Pacific. This was the first missile to pass over Japanese territory since 2009 and comes after North Korea recently backed down from its threat to strike the US military installation in Guam in the Pacific Ocean earlier this month. The latest provocation has reignited fears of a serious [..]

Forex News – Japanese consumption disappoints but labor conditions remain robust; yen surges on rising geopolitical tensions

Posted on August 29, 2017 at 8:58 am GMT

Japanese data showed on Tuesday that the labor market continued strengthening in July in line with expectations, remaining near full employment conditions. However, other data on household spending indicated that better labor conditions did not support consumption in the aforementioned period. The yen overall experienced substantial demand today, hitting a 4 ½ – month high as heightened geopolitical tensions in the Korean peninsula came into the spotlight. During early Asian trading hours, the Japan Institute for Labour Policy and Training released figures on the jobs to application ratio and [..]

Week Ahead – US data to dominate week; final PCE inflation and jobs numbers before September Fed meeting

Posted on August 25, 2017 at 2:58 pm GMT

The summer doldrums should be over next week as major data releases breathe some life into the forex market. The United States will by far have the busiest economic calendar as the Fed gets its hands on the last jobs report and PCE inflation figures before the September FOMC meeting. Outside of the US, manufacturing PMIs will be the main focus, while Japan will also have a relatively packed data release schedule. Australian data to be eyed ahead of Q2 [..]

Forex News – Yen inches down as inflation pressures remain weak in Japan

Posted on August 25, 2017 at 9:22 am GMT

According to the Ministry of International Affairs and Communications, Japanese core inflation continued rising steadily for the seventh consecutive month in July. However, the measure remained weak, as anticipated, far away from the Bank of Japan’s (BOJ) 2% target, reducing chances for a rate hike anytime soon. Consequently, the yen retreated slightly against its US counterpart during the Asian trading hours. As analysts projected, for the month of July, headline consumer prices in Japan picked up by 0.4% y/y for [..]

Forex News – Sterling hovers near new lows as Britain makes first step on Brexit legislation and growth stagnates

Posted on August 24, 2017 at 3:39 pm GMT

Today marks a year how the UK Prime Minister gave a speech about Brexit in a Conservative conference and said that “We are not leaving only to return to the jurisdiction of the European Court of Justice — that’s not going to happen”. Yesterday, though, while May reiterated her view on Britain’s own legal path, a Brexit paper on “enforcement and dispute resolution” submitted by the state’s secretary David Davis expressed a softer opinion. Following the report, which revealed that [..]

Forex News – Euro hits higher as Eurozone PMI readings surprise to the upside and Draghi gives no clues on policy

Posted on August 23, 2017 at 11:52 am GMT

During early European hours, the euro pared almost half of yesterday’s losses against its US counterpart after preliminary Markit composite PMI readings out of the Eurozone indicated that business activity in the block continued strengthening in August, despite a pullback in the previous month. Before the data release, ECB president, Mario Draghi, did not comment on future monetary policy plans during his public appearance in Germany. Following a disappointing performance in July, flash IHS Markit PMI figures out of Eurozone [..]

Forex News – German ZEW economic sentiment misses forecasts; euro extends losses

Posted on August 22, 2017 at 12:10 pm GMT

Germany’s ZEW economic sentiment indicator for the month of August highlighted on Tuesday that German investors feel less optimistic about the outlook for the economy in the next six months, adding to the euro’s losses. However, the negative impact on the currency was softened as views on the current economic conditions came in higher than expected. According to the figures, the German ZEW economic sentiment index, which is a closely watched survey that asks companies about their six-month expectations regarding economic conditions, [..]

Forex News – Dollar gathers tailwinds as White House departures continue

Posted on August 21, 2017 at 3:17 pm GMT

Steve Bannon, known as the brain power behind Trump’s nationalistic ideology, has mutually agreed to exit the position of the Chief strategist at the White House on Friday, extending the list of people departing from the Trump’s inner circle. With the board of directors being replaced frequently, as never happened before, uncertainty around Trump’s administration has been escalating, dragging the dollar into further losses. Following numerous resignations last weekend, with the CEO of two business councils leaving their positions in [..]

Week Ahead – Yellen and Draghi at Jackson Hole to take centre stage in quiet data week

Posted on August 18, 2017 at 3:28 pm GMT

All eyes will be on the central bankers gathering in Jackson Hole, Wyoming in the United States where the heads of the Federal Reserve and the European Central Bank will be making keynote speeches. The event will likely dominate traders’ attention in an otherwise muted week for data releases. The main data to watch out for will be flash PMIs out of the Eurozone, Japanese inflation figures and durable goods orders in the US. Eurozone business surveys in focus It [..]

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