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Week Ahead – Dollar eyes US stimulus talks, retail sales; UK GDP and RBNZ in focus too

Posted on August 7, 2020 at 1:10 pm GMT

Congressional talks in the United States on a new virus relief package will dominate the market headlines yet again in the coming week as the durability of the latest risk-on episode rests on a deal being reached. But investors will also be keeping a close watch on US retail sales figures to gauge how well consumption is holding up amid renewed virus restrictions. Progress on the recovery will be preoccupying the pound too as UK GDP numbers for Q2 and [..]


Canada to add more jobs in July as recovery gathers pace, loonie strengthens – Forex News Preview

Posted on August 5, 2020 at 1:44 pm GMT

The Canadian economy is expected to have added more jobs in July as the phased easing of the lockdown across the country continues to boost employment. The jobs report, due on Friday at 12:30 GMT, could give the Canadian dollar a further helping hand in erasing its year-to-date losses versus the tumbling greenback. But with troubles brewing across the border in the United States, can Canada’s recovery stand on its own two feet? Jobs bounce set to continue It’s so [..]


Nonfarm payrolls: Great expectations? – Forex News Preview

Posted on August 5, 2020 at 12:45 pm GMT

The US employment report will hit the markets at 12:30 GMT Friday, and forecasts suggest the American economy added another 1.6 million jobs in July. Why is the consensus so optimistic even though the US recovery is losing steam? The answer lies with the period which the data were collected in. Overall, the risks seem tilted towards a disappointing, but positive NFP print. As for the dollar, whether the recent downfall continues will depend mostly on what Congress does. Too [..]


Bank of England to hold rates and QE, may clarify stance on negative rates – Forex News Preview

Posted on August 4, 2020 at 1:59 pm GMT

The Bank of England is getting ready for ‘Super Thursday’ this week when it inundates investors with its meeting minutes, the latest outlook report and a press conference on top of its policy decision. But having already beefed up its quantitative easing (QE) programme at the last meeting in June, the Bank is not expected to make any adjustments to its policy when it announces its decision at 11:00 GMT. Instead, Governor Andrew Bailey’s press conference at 11:30 GMT will [..]


Jump in New Zealand unemployment may curb soaring kiwi – Forex News Preview

Posted on August 4, 2020 at 6:19 am GMT

New Zealand’s jobless rate is expected to have surged to a 7-year high in the June quarter as employers struggle to maintain staff numbers in the face of the global pandemic. The data, due on Wednesday (Tuesday, 22:45 GMT), might not pose an obvious threat to the local dollar’s 4-month-long uptrend versus its US rival as New Zealand has so far avoided being hit by a second wave of COVID-19 infections. However, the rocky recovery in the country’s main trading [..]


Aussie braces for dovish tilt by RBA as Australia battles second virus wave – Forex News Preview

Posted on July 31, 2020 at 1:06 pm GMT

The Reserve Bank of Australia is set to stand pat again when it announces its latest policy decision on Tuesday at 0430 GMT. As the Australian economy climbs out of its worst recession in decades, policymakers are not anticipated to feel the urge to act in July. However, with the country continuing to see an alarming surge in new coronavirus cases, it may only be a matter of time before additional monetary support becomes necessary. Any hints on Tuesday that [..]


Week ahead – Can nonfarm payrolls halt the dollar’s descent?

Posted on July 31, 2020 at 12:43 pm GMT

It’s a huge week ahead, with the Reserve Bank of Australia and the Bank of England both announcing their rate decisions ahead of the all-important US employment data. For markets, the burning question is whether a decent payrolls report will be enough to halt the dollar’s relentless slide. The other variable that will impact most charts through the risk sentiment channel is whether Congress will reach a compromise on the new rescue package, and if so, how much they will [..]


Euro to shrug off grim GDP data as outlook brightens on recovery plan – Forex News Preview

Posted on July 29, 2020 at 10:55 am GMT

GDP data out of the Eurozone on Thursday and Friday are expected to show the continent is facing its worst economic crisis since the second world war. Yet, the euro is looking the most bullish against the US dollar in a very long time. A strong stimulus response, combined with relative success in bringing the COVID-19 outbreak under control, has raised confidence in Europe’s ability to not only fight the crisis but to come out of it stronger. Hence, worse-than-expected [..]


Australian CPI and China PMIs could add optimism for more gains in aussie – Forex News Preview

Posted on July 27, 2020 at 3:05 pm GMT

As markets deal with the real threat of surging coronavirus cases, the risk-sensitive Australian dollar will be looking at several indicators coming out this week and the following Monday out of Australia and China. The Australian inflation report is due on Wednesday at 0430 GMT, while China’s NBS and Caixin/Markit manufacturing PMIs are coming out on Friday (0430 GMT) and next Monday (0145 GMT), both of which come into the spotlight for traders. In the previous quarter, the annual inflation rate in Australia reached the Reserve Bank of Australia’s (RBA) target, for the first [..]


Fed meeting: A more cautious message – Forex News Preview

Posted on July 27, 2020 at 11:56 am GMT

The Federal Reserve will wrap up its latest meeting at 18:00 GMT Wednesday. No change in policy is expected, so the focus will be on Chairman Powell’s press conference at 18:30 GMT. With signs that the US recovery has flattened lately, Powell could adopt a more cautious tone, opening the door for more action in September. If so, that might be enough to accelerate the dollar’s freefall, though Thursday’s GDP numbers could provide some support.   Under pressure The US [..]

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