Forex News

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Week Ahead – Non-farm payrolls, FOMC, PMI data in focus; EU Summit prepares for Brexit

Posted on April 28, 2017 at 2:24 pm GMT

The main focus in the coming week will be on the United States, which releases important jobs and PMI data, while the Federal Reserve policy meeting is also scheduled. Monday starts off quietly since most markets will be closed in Europe, the UK and Asia for the May Day holiday.   US non-farm payrolls, ISM and FOMC The April non-farm payrolls report due at the end of the week will play a key role in influencing market expectations about the [..]

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Forex News – UK GDP growth slows more than expected in Q1; pound shrugs off data

Posted on April 28, 2017 at 10:49 am GMT

The UK economy slowed more-than-expected during the first quarter of the year as the dominant services sector posted its weakest growth in two years. GDP expanded by 0.3% quarter-on-quarter in the first three months of the year, slightly weaker than forecasts of 0.4% and sharply down from the prior quarter’s 0.7% rate. On an annual basis, growth improved from 1.9% in the fourth quarter to 2.1% in the first quarter. Expectations were for a year-on-year figure of 2.2%. Nevertheless, that [..]

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Forex News – Trump tax plan fails to lift markets; dollar pulls back

Posted on April 27, 2017 at 1:33 pm GMT

The US Treasury Secretary, Steven Mnuchin, yesterday announced the much-anticipated details on one of President Trump’s main election campaign pledges to cut taxes for businesses and individuals. Dubbed by Mnuchin as “one of the biggest tax cuts in history”, the tax plan provided few surprises as much of the details had already been circulating in the media in the prior days. The main highlights of the tax plan are simplifying income tax by cutting the number of tax brackets from [..]

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Forex News – Australian inflation enters RBA’s target range, still below forecasts; aussie falls

Posted on April 26, 2017 at 11:19 am GMT

Australian CPI data for the first quarter of the year showed annual inflation entering the Reserve Bank of Australia’s target range for the first time since September 2014. Despite this feat, inflation numbers were below what analysts expected while core inflation significantly lagged the RBA’s target band of 2 to 3%. These factors caused the Australian dollar to fall. Taking a look at the actual numbers, inflation stood at 2.1% year-on-year during the first quarter of 2017. This compares favorably [..]

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Forex News – Euro boosted as Macron becomes favourite to become French president after first round win

Posted on April 24, 2017 at 11:51 am GMT

The euro surged to a 5-month high today after the first round of voting in France’s presidential election defied the worst case scenario predictions and gave Emmanuel Macron, the centrist candidate, the expected win. The far-right leader of the National Front party, Marine Le Pen, came second in Sunday’s vote as many polls indicated. However, with 97% of the votes counted, she was more than 2 points behind at 21.5% compared to Macron’s 23.8%. The results boosted risk sentiment as [..]

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Week Ahead – US and UK GDP eyed amid slowing consumer spending; French election, ECB and BoJ meetings also in focus

Posted on April 21, 2017 at 4:01 pm GMT

After a quiet week for data following the Easter celebrations, the economic calendar is looking busier over the coming seven days. However, political events could once again overshadow the statistics as France holds the first round of its presidential election on Sunday. Central banks will also be under the spotlight with both the European Central Bank and the Bank of Japan holding their scheduled policy meetings. In terms of data, the first estimates of US and UK GDP will be [..]

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Forex news – Rise in New Zealand inflation lifts hopes of rate hikes

Posted on April 20, 2017 at 12:53 pm GMT

New Zealand’s dollar strengthened after the country’s headline inflation rate accelerated to the fastest pace in five years in the first quarter and beat forecasts. The data boosted the kiwi as markets hope that today’s data diminishes significantly the likelihood for any further rate cuts by the Reserve Bank of New Zealand, at least at the upcoming policy meetings. The Consumer Price Index showed a 2.2% increase in the first quarter year-on-year from a 1.3% increase in the fourth quarter [..]

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Forex News – French elections a big risk for the euro

Posted on April 19, 2017 at 2:55 pm GMT

The French elections are one of the most potentially destabilizing events for the markets this year. The first round of the elections is on Sunday, April 23. The top two candidates from the knock-out round will battle it out in a second ballot on May 7. As the election date nears, the outcome has become less predictable and recent polls have shown that the race is tight between centrist Emmanuel Macron and far-right Marine Le Pen. But a recent surge [..]

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Forex News – Pound wobbles before surging to 4-month high after UK PM calls snap election

Posted on April 18, 2017 at 12:44 pm GMT

The pound swung wildly on Tuesday as news emerged that the British Prime Minister, Theresa May, will call an early general election on June 8. The announcement took markets by surprise as May had previously ruled out an election before 2020, and most analysts had expected that any decision for a snap election would have come before the triggering of Article 50 and not after it. The UK government formally notified its intention of withdrawing from the European Union on [..]

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Forex News – China GDP growth accelerates to 6.9% in Q1 but debt concerns rise

Posted on April 18, 2017 at 11:05 am GMT

China’s economy expanded at an annual pace of 6.9% in the first quarter of 2017, beating analysts’ expectations of 6.8% growth. The figure is the highest since the third quarter of 2015 and above the government’s official target of 6.5%. Growth during the three-month period was fuelled by a rapid rise in credit and infrastructure spending, but a rebound in factory output added to hopes of a more sustained recovery. After recording the slowest annual growth in 26 years of [..]

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