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Could Tokyo CPI open the door to BoJ policy normalization? – Preview

Posted on March 4, 2024 at 8:47 am GMT

Tokyo CPI report kicks off a very interesting period for the BoJ Earnings data under the microscope until outcome of wage talks Yen remains under pressure against the US dollar Tokyo CPI released on Tuesday; average earnings data on Thursday The BoJ is looking for an opening to hike rates The market has already started the countdown to the March central bank meetings. The ECB gathering is scheduled for this Thursday while the Fed will meet on March 20. With [..]

Week Ahead – ECB decision and US payrolls to steal the show

Posted on March 1, 2024 at 10:32 am GMT

Nonfarm payrolls and Powell’s testimony will be crucial for US dollar European Central Bank could set the stage for summer rate cuts Bank of Canada decision and UK budget announcement also in focus   Dollar braces for US payrolls  Riding high on a wave of US economic resilience, the dollar is currently the best-performing major currency this year, having gained nearly 3% against a basket of currencies in a couple of months.  This stellar performance reflects an impressive US economy. [..]

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Canada’s GDP to rebound but not the loonie – Preview

Posted on February 28, 2024 at 2:23 pm GMT

Canadian economy set to return to growth but remain sluggish Will the Loonie be able to capitalize on any good news? Canadian economy to avoid recession once again The Canadian dollar has barely made any serious progress against other major currencies this year besides the battered Japanese yen. Canadian Q4 GDP data may not come to the rescue on Thursday to give the much-needed boost, but investors will still look for any signs rate cuts will be necessary sooner than later. The Canadian economy experienced a [..]

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Chinese PMIs in the spotlight after Australian monthly CPI indicator; aussie to react – Preview

Posted on February 27, 2024 at 9:44 am GMT

Australia’s Monthly CPI indicator on Wednesday; could surprise on the upside Chinese PMI surveys on Friday Aussie’s outperformance against the US dollar depends on stronger data releases Market attention on US and Eurozone inflation This week is dominated by the US Core PCE price index on Thursday and Eurozone CPI on Friday, which might significantly impact the market’s short-term direction. Additionally, economic data from China and Australia will also be released. Chinese February PMI surveys will be reported on Thursday, and the Australian monthly CPI indicator for [..]

Inflation still matters for the ECB – Preview

Posted on February 27, 2024 at 8:22 am GMT

The eurozone inflation report for February on the menu this week Most ECB members worry about the growth outlook after the mixed PMIs The euro continues to suffer again against the pound German CPI will be published on Thursday; Eurozone on Friday 10:00 GMT With global stock markets attracting lots of interest due to their consecutive all-time highs, the countdown to the March 7 ECB meeting has commenced. This gathering is considered to be a key one as, apart from [..]

US dollar eyes PCE inflation data after CPI scare – Preview

Posted on February 26, 2024 at 10:17 am GMT

Core PCE price index to be crucial for markets amid sticky inflation fears Income and consumption to be watched too as US economy stays hot But can further upside surprises boost the dollar on Thursday, 13:30 GMT Will PCE gauge ease or fuel inflation worries? Even though the Fed has made great progress in its bid to bring inflation in the US under control, the next phase to get it all the way down to 2% is proving to be [..]

Weekly Technical Outlook – USDJPY, EURUSD, NZDUSD

Posted on February 26, 2024 at 9:29 am GMT

US Core PCE price index expected to fall as USDJPY weakens Decline in flash Eurozone CPI may lead to rate cuts; EURUSD remains above 1.0800 RBNZ expected to keep rates unchanged; NZDUSD falls after bullish rally US Core PCE price index –> USDJPY The Federal Reserve is not rushing to ease policy, and markets are beginning to accept the possibility that there will be no rate cuts before the summer. Annually, the core PCE price index is anticipated to have decelerated [..]

Week Ahead – US and Eurozone inflation, RBNZ meeting to test rate cut bets

Posted on February 23, 2024 at 11:07 am GMT

US core PCE and Eurozone flash CPIs to keep inflation worries in the foreground Japanese and Australian inflation numbers also coming up RBNZ might strike a hawkish tone Manufacturing PMIs also in the spotlight PCE inflation to headline busy US data week The Fed is in no rush to ease policy and markets are finally starting to come round to the prospect of no rate cuts before the summer. Yet, stock markets have remained bullish, suggesting that the fact alone [..]

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Will the RBNZ resume interest rate hikes? – Preview

Posted on February 23, 2024 at 10:20 am GMT

RBNZ among the few central banks maintaining a tightening bias ANZ prompts investors to place rate hike bets Inflation slows but remains well above RBNZ’s target range The Bank meets on Wednesday at 01:00 GMT Investors see decent chance for another hike The Reserve Bank of New Zealand (RBNZ) is among the few central banks that are maintaining a tightening bias on concerns about ongoing inflationary pressures. At its latest gathering, on November 29, the Bank kept interest rates steady [..]

Dollar turns to Fed minutes for more fuel – Preview

Posted on February 20, 2024 at 12:42 pm GMT

Minutes of latest Fed meeting will be released at 19:00 GMT Wednesday Given strength of US economy, Fed has warned against early rate cuts If the minutes echo this view, dollar could extend its winning streak   Traders recalibrate Fed rate path The US economy continues to fire on all cylinders. Economic growth is on track to hit 3% this quarter, the labor market is historically tight, and inflation readings have been persistently hot in recent months. Reflecting this economic [..]

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