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Australian jobs data: A risk for the high-flying aussie? – Forex News Preview

Posted on June 17, 2020 at 12:02 pm GMT

The latest employment numbers out of Australia will hit the markets at 01:30 GMT Thursday and forecasts point to more job losses, though that may be more of a counting issue than a reflection of real economic conditions. The high-flying aussie could spike lower if the data disappoint, but its broader direction will hinge mainly on risk sentiment. On that front, much will depend on how the global virus picture evolves, especially in America. Statistical shenanigans? Australia is expected to [..]

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Bank of England to ramp up QE as UK GDP collapses, Brexit clock ticking – Forex News Preview

Posted on June 16, 2020 at 1:38 pm GMT

As Britain faces its worst recession in 300 years, the Bank of England will be hoping to use its two-day policy meeting on June 17-18 to inject another dose of stimulus into the ailing UK economy. After the bigger-than-expected plunge in GDP in April, the Bank is almost certain to announce a large increase in its asset purchases on Thursday at 11:00 GMT. But with Brexit once again rearing its ugly head, policymakers’ determination to keep the economy afloat may [..]

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SNB set to disappoint trigger-happy investors – Forex News Preview

Posted on June 16, 2020 at 1:00 pm GMT

The Swiss National Bank (SNB) will conclude its policy meeting at 07:30 GMT Thursday, and strangely enough, markets are pricing a 50% chance for a small rate cut. While some more stimulus would make sense, the SNB only has one ‘rate bullet’ left in the chamber so it might prefer to save it for a rainier day, especially now that the upward pressure on the franc has eased. In case policymakers indeed keep their rate powder dry, the franc could [..]

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Powell testimonies and US retail sales to set market tone – Forex News Preview

Posted on June 15, 2020 at 2:20 pm GMT

In America, important events begin early this week. On Tuesday, we get retail sales data for May (12:30 GMT), ahead of Fed Chairman Powell’s semi-annual testimony before the Senate (14:00 GMT). Powell will also appear before the House of Representatives on Wednesday (16:00 GMT) and his Q&A sessions with lawmakers on both occasions could be crucial for the dollar and risk sentiment. In the bigger picture, the main driver for markets will be how quickly US virus cases keep rising. [..]

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Week Ahead – BoE and Brexit could create perfect storm for pound; BoJ and SNB meet too

Posted on June 12, 2020 at 12:49 pm GMT

An upcoming summit of EU leaders could decide the fate of the European recovery fund and the direction of Brexit talks, setting up possible stumbling blocks for the euro’s and pound’s rebounds. The pound will also be keeping an eye on the Bank of England’s policy meeting, with more QE looking likely. The Bank of Japan’s and Swiss National Bank’s respective meetings are not expected to be as exciting. But as some of the recent optimism starts to fade, it [..]

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Flurry of UK data eyed, can the pound keep going? – Forex News Preview

Posted on June 11, 2020 at 10:28 am GMT

A flurry of UK data including GDP numbers for April will hit the markets at 06:00 GMT on Friday, and forecasts point to abysmal readings. Yet, economic data hardly move the markets anymore, so the pound’s performance will likely be shaped by a combination of Brexit news and global risk sentiment. The risks surrounding the currency seem tilted to the downside, though any potential losses may be more visible against the resurgent euro, not so much against the dollar that’s [..]

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Fed to sit tight as outlook turns brighter; will Powell defy the optimism? – Forex News Preview

Posted on June 9, 2020 at 2:42 pm GMT

The Federal Reserve’s Open Market Committee (FOMC) will conclude its two-day monetary policy meeting on Wednesday, announcing its decision at 18:00 GMT. After unprecedented central bank intervention since March to prevent a virus-induced economic meltdown, policymakers are not expected to make significant changes to their emergency programs this week. However, with the initial recovery from the lockdown easings proving stronger and faster than anticipated, everyone will be watching to see whether Fed Chairman Jerome Powell shares this optimism when he [..]

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Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:07 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

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Could Nonfarm payrolls be a wake-up call for dollar bulls? – Forex News Preview

Posted on June 4, 2020 at 10:29 am GMT

The cocktail of violent protests across US major cities and a rising risk appetite upset the dollar and let other major currencies collect sizeable gains for more than a week now. On Friday at 12:30 GMT the famous nonfarm payrolls report may not be an ideal one, but it could add some floor under the buttered greenback if the data indicate that the worst of job losses is likely behind. The worst could be befind us The destructive protests, which have [..]

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ECB set to expand pandemic stimulus but size and split views may hurt euro – Forex News Preview

Posted on June 2, 2020 at 2:17 pm GMT

The European Central Bank is widely expected to announce a ramping up of its pandemic emergency purchase program (PEPP) on Thursday at 11:45 GMT as the Eurozone economy slowly emerges from weeks of lockdown. But as the euro rallies on the prospect of a double dose of fiscal and monetary stimulus, a smaller-than-anticipated increase in the PEPP and signs of opposition to further policy easing may spoil the party. Pandemic stimulus to be boosted The ECB has been dropping strong [..]

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