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Forex News – Loonie hits fresh two-week high as consumer prices bounce on an annual basis

Posted on August 18, 2017 at 2:57 pm GMT

On Friday, figures out of Canada showed that inflation in July strengthened year-on-year in line with expectations, increasing the odds for another rate hike this year. As a result, the loonie extended its uptrend against its US counterpart. Based on Statistics Canada, consumer prices in the last twelve months grew as expected by 1.2% as six out of the eight major CPI components showed improvement during the month – this followed a rise by 1.0% in June. Particularly, increases in transportation and shelter costs contributed the [..]

Forex News – Sterling posts losses on softer retail sales

Posted on August 17, 2017 at 1:35 pm GMT

Following the UK CPI and labor figures published earlier this week, the Office for National Statistics released another report today on retail sales for the month of July. This showed household spending growing at a slower pace compared to a year before. As a result, sterling dipped into losses against its US and eurozone counterparts. Looking at the numbers, UK retail sales pulled back in July after a strong rally in the previous month as British consumers cut their purchases [..]

Forex News – Aussie extends gains as Australian employment climbs, but number of full-timers decreases

Posted on August 17, 2017 at 9:55 am GMT

In July, employment in Australia rose more than expected. However, full-time jobs decreased while the number of part-timers increased. The RBA projects labor conditions improving in the upcoming years and hence boosting the overall economy by driving consumption higher. After the data release, the Australian dollar experienced volatility relative to its US counterpart, rising to a near two-week high later during early European trading hours. On Thursday, the Australian Bureau of Statistics published labor data for the month of July. [..]

Forex News – Yen fails to strengthen despite Japanese GDP growth beating forecasts

Posted on August 14, 2017 at 10:11 am GMT

On Monday, the yen dipped into losses against the dollar after a strong rally on Friday, reacting reversely to government preliminary GDP growth data. The figures showed that the Japanese economy grew more than expected for the sixth consecutive quarter, posting its fastest expansion in more than two years.According to the preliminary data released by the cabinet office, the Japanese economy expanded by 4% year-on-year in the second quarter, surprising analysts who expected a growth rate of 2.5%. This was well [..]

Week Ahead – Japan GDP, UK and US retail sales, Aussie jobs in focus

Posted on August 11, 2017 at 3:39 pm GMT

Major data releases next week should help divert some of the attention away from the geopolitical risks back to the outlook for monetary policy. Second quarter GDP growth figures out of Japan will be the main item to watch, followed by retail sales releases in the UK, the US, and China. Inflation data will be out in Canada, the Eurozone and the UK, while the latest employment numbers are due in Australia and the UK. Chinese industrial output and retail [..]

Forex News – Sterling gains as British industrial production rises, but trade balance disappoints

Posted on August 10, 2017 at 1:38 pm GMT

While the BOE is hoping for exports and investments to rebalance the slowdown in consumption, as MPC member Michael Sanders expressed a month ago, data released on Thursday showed the goods trade deficit widening and reaching the highest level since September. On the other hand, industrial output showed improvement, but the improvement was seen as temporary. As a response, sterling picked up from a three-week low it touched prior the data. According to the Office for National Statistics, British industrial [..]

Forex News – RBNZ holds monetary policy unchanged; Kiwi sinks to a four-week low

Posted on August 10, 2017 at 10:11 am GMT

Early on Thursday, RBNZ policymakers gathered to decide on monetary policy. As it was widely expected, the RBNZ held cash rates unchanged maintaining rates at a record low of 1.75%. However, the bank’s preferences over a lower exchange rate, expressed after the release of the statement, pushed the kiwi down to a four-week low, while electronic retail sales figures pressured the currency further. Despite recent data showing a negative change in employment for the first time since November 2015, and a [..]

Forex News – RBNZ holds monetary policy unchanged; Kiwi sinks to a three-week low

Posted on August 10, 2017 at 9:57 am GMT

Early on Thursday, RBNZ policymakers gathered to decide on monetary policy. As it was widely expected, the RBNZ held cash rates unchanged maintaining its stimulus monetary program rates at a record low of 1.75%. However, the bank’s preference over a lower exchange rate, expressed after the release of the statement, pushed the kiwi down to a four-week low, while electronic retail sales figures pressured the currency further. Despite recent data showing a negative change in employment for the first time since November [..]

Forex News – Chinese inflation ticks down, producer prices steady

Posted on August 9, 2017 at 9:48 am GMT

Following a slowdown in Chinese exports in July, Chinese factory prices remained steady in the same month, in what could be a positive sign for industrial profits, while consumer prices experienced weaker growth. The National Bureau of Statistics of China released on Wednesday the consumer price (CPI) and the producer price (PPI) indices for the month of July. According to the numbers, the PPI stood flat for the third consecutive month at 5.5%, as expected, on a yearly basis. Month-on-month the index [..]

Forex News – China trade slows in July but yuan hits 10-month high

Posted on August 8, 2017 at 12:26 pm GMT

Chinese exports and imports both moderated in July, though they were still up a solid 7.2% and 11.0% respectively from a year ago. Exports were expected to grow by 10.9% after a 11.3% gain in June, while imports were forecast to rise by 16.6% following a 17.2% jump in the previous month. The sharper slowdown in imports compared to exports led to the trade surplus increasing for the fifth straight month in July. China’s trade surplus with the rest of [..]

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