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US CPI in focus as Yellen and Fed downplay inflation fears – Forex News Preview

Posted on February 9, 2021 at 3:18 pm GMT

With so much talk of inflation lately, the monthly print of the consumer price index (CPI) out of the United States on Wednesday (13:30 GMT) might attract a bit more attention than usual. After the NFP disappointment, stronger-than-expected CPI data could be what the dollar needs to resume its uptrend. President Biden’s $1.9 trillion stimulus proposal has sparked fears that the colossal-sized package may stoke inflationary pressures. Former colleagues Treasury Secretary Janet Yellen and Fed Chair Jerome Powell have both [..]

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Canadian jobs data may not dampen spirits – Forex News Preview

Posted on February 4, 2021 at 11:28 am GMT

The loonie may not be brought to tears when Canada releases its first employment report of the year on Friday at 12:30 GMT, as weaker figures are inevitable given the tight lockdown restrictions during the month of January. The data, however, will still be worthy to watch since the Bank of Canada (BoC) left two conflicting scenarios open during its previous policy meeting, and investors would like to gather fresh clues before they make assumptions about the next policy announcement. Dovish [..]

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Will the Bank of England embrace negative rates? – Forex News Preview

Posted on February 3, 2021 at 2:54 pm GMT

The Bank of England is due to announce its first policy decision of 2021 on Thursday at 12:00 GMT. No change in policy is expected but updated economic forecasts will be published alongside the statement. However, much of the focus will be on the Bank’s findings of its review into the effectiveness of a negative interest rate policy. The United Kingdom has been one of the worst-hit countries from the Covid-19 pandemic, both economically and in terms of infections and [..]

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Euro could shrug off Q4 GDP growth data – Forex News Preview

Posted on February 1, 2021 at 5:06 pm GMT

Eurozone will publish its first GDP estimates for the last quarter of 2020 on Tuesday at 10:00 GMT and undoubtedly the results will be negative given the extended lockdown restrictions during that period. As for the euro, the vaccine rollout, and more recently the ECB’s discussions over its strength seem to be the catalyst behind its recent weakness. Hence, unless there are updates on these fronts, this week’s data could do little to move the euro. Q4 GDP data may [..]

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Week Ahead – NFP bounce, stimulus progress might calm markets; BoE and RBA eyed

Posted on January 29, 2021 at 1:41 pm GMT

It’s going to be a relatively busy start to February as investors will be hoping the latest US jobs report will confirm that December’s rough patch was short lived. However, that won’t be the only data to test the market mood as preliminary GDP numbers out of the Eurozone could heighten fears of a double-dip recession. In the world of central banks, the first policy decisions of the year are due in Australia and Britain. The Reserve Bank of Australia [..]

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Fed meets: a non-event or the start of a brewing dilemma? – Forex News Preview

Posted on January 26, 2021 at 1:08 pm GMT

The Federal Reserve will begin its first policy meeting of the year on Tuesday and will announce its decision on Wednesday at 19:00 GMT. No change is expected in the Fed’s monetary policy settings nor in its vast array of emergency programmes. The sweeping shakeup at the White House and the recently passed virus relief package by Congress likely bought the Fed a few months before policymakers need to start thinking about the next course of action. However, with so [..]

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ECB: May hold steady with eyes on the euro – Forex News preview

Posted on January 20, 2021 at 3:11 pm GMT

The European Central Bank (ECB) will conclude its first rate-setting meeting of the year on Thursday at 12:45 GMT and although worsening virus conditions have made a double-dip recession all but certain at the end of 2020, the central bank may decide to stay on the sidelines. The policy announcement itself is not expected to be a big market mover for the euro, though criticism of the euro’s strength could bring a major support area under examination.  ECB to stand [..]

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UK PMIs to highlight lockdown pain but Johnson’s vaccination drive buoys pound – Forex News Preview

Posted on January 20, 2021 at 3:10 pm GMT

Having only just come out of lockdown number two, much of the United Kingdom finds itself shut down again as the recently discovered new variant of Covid-19 is spreading even faster than previously known strains. This new highly contagious version of the virus left the government no choice but to impose the toughest measures since the first lockdown at the beginning of January. Hence, it will come as no surprise that the flash PMIs for the month – due on [..]

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Australian employment report may shoot aussie higher – Forex News Preview

Posted on January 19, 2021 at 2:25 pm GMT

December’s employment report for Australia is likely to attract investors’ attention on Thursday at 00:30 GMT. Technically, the recession is over in the country as the economic indicators have turned positive, however, the recovery is not. Unemployment is expected to take two to three years to return to pre-pandemic levels and looking at the nation’s currency, it is holding near recent highs. Unemployment rate predicted to drop to its lowest level since April In the previous release, the unemployment rate unexpectedly fell to 6.8% in November versus October’s figure of 7%. This [..]

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Week Ahead – ECB, BoJ and BoC meet but all eyes on US Capitol

Posted on January 15, 2021 at 12:17 pm GMT

The first of the new year’s central bank meetings will get under way next week and it will be a heavy schedule on the data front as well. The European Central Bank, Bank of Japan and Bank of Canada will almost certainly be debating the latest setback to the recovery from the worsening Covid-19 outbreak. China will report its fourth quarter GDP print and flash PMIs along with inflation and retail sales numbers will be doing the rounds in most [..]

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