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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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Bank of Canada may not change course as Macklem takes the helm – Forex News Preview

Posted on June 2, 2020 at 6:52 am GMT

The Canadian dollar may show fresh volatility on Wednesday after the Bank of Canada’s new chief holds his first policy meeting, with the rate announcement scheduled to be released at 14:00 GMT. Interest rates are expected to remain steady, while additional lending through corporate bond purchases cannot be excluded if the central bank wants to help more amidst lingering COVID-19 uncertainties and elevated domestic risks. Yet, what could attract greater attention, and hence move the loonie, is the central bank’s [..]

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Week Ahead – ECB, RBA, and BoC meetings ahead of nonfarm payrolls

Posted on May 29, 2020 at 1:12 pm GMT

The coming week is action-packed, with three central bank meetings, the resumption of critical Brexit talks, and the release of the US jobs report. The ECB looks primed to expand its QE program but paradoxically, that may not hurt the euro. Neither the Reserve Bank of Australia nor the Bank of Canada is unlikely to act – those currencies could be driven mainly by risk sentiment and US-China tensions. Meanwhile, although markets ignored scary economic data on the way down, [..]

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RBA meets as Australia reopens for business, aussie rallies – Forex News Preview

Posted on May 29, 2020 at 12:38 pm GMT

The Reserve Bank of Australia is scheduled to hold a policy meeting on Tuesday with an announcement expected at 05:30 GMT. A day later, the GDP growth estimate for the first quarter is due at 01:30 GMT, making it an important week for the very bullish looking Australian dollar. However, with the growth picture improving fast and investors already having made up their minds that the virus hit on the Australian economy won’t be as severe as initially feared, next [..]

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Canadian GDP data may not be a game changer for the loonie – Forex News Preview

Posted on May 27, 2020 at 3:30 pm GMT

While markets are shifting focus to the second half of the year, hoping to see signs of economic recovery on the back of easing lockdown measures, the loonie will take a glance at Friday’s Q1 GDP numbers at 12:30 GMT. The monthly GDP readings for March may attract special attention as this was the month the government ordered the quarantine. Yet, the overall ugly outcome may prove outdated and probably not a game changer for the rising loonie. GDP growth [..]

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Eurozone ESI and inflation unlikely to distract euro ahead of ECB decision – Forex News Preview

Posted on May 27, 2020 at 10:16 am GMT

The Economic Sentiment Indicator (ESI) and preliminary inflation readings will be the data highlights in the Eurozone this week. The ESI is out on Thursday and the flash inflation estimate will follow on Friday; both are due at 09:00 GMT. The two reports are expected to paint contrasting pictures as the ESI should tick higher – in line with other business surveys – as the lockdowns are relaxed, while the price data may sound alarm bells about the deflationary impact [..]

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Deluge of US data unlikely to excite dollar, but risk tones might – Forex News Preview

Posted on May 27, 2020 at 9:29 am GMT

In America, there’s a flood of data coming up towards the end of the week. Durable goods orders and the weekly jobless claims are due at 12:30 GMT on Thursday, while Friday brings consumption and income numbers ahead of a speech by Fed chief Powell (15:00 GMT). For the dollar though, none of these is likely to have much of an impact. Instead, the reserve currency may be driven mainly by how risk sentiment evolves. Overall, it’s difficult to envision [..]

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