Forex Previews

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Australian jobs data: A risk in disguise for the aussie? – Forex News Preview

Posted on February 18, 2020 at 10:49 am GMT

After taking a beating from virus concerns, the Australian dollar will now look to the nation’s wage growth data for Q4 that are due on Wednesday before the all-important jobs numbers for January due on Thursday, both at 00:30 GMT. The risks surrounding the aussie from these releases appear tilted to the downside. Stellar figures might be brushed aside as outdated, but disappointing ones could signal the economy was already losing steam before the virus impact. Collateral damage The aussie [..]

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UK wage growth could slow but the pound will not get scared – Forex News Preview

Posted on February 17, 2020 at 4:25 pm GMT

The UK is delivering its last employment report for 2019 on Tuesday at 09:30 GMT and forecasts are for softer prints which are likely to increase the odds for a rate cut, consequently triggering a downside correction in the pound ahead of a more important batch of data releases later in the week. The decline, however, may be limited as markets anticipate a more expansionary fiscal policy under the new minister of finance.   Fiscal policy reduces the need for [..]

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Japanese data eyed as economy hit by trade war and virus storms – Forex News Preview

Posted on February 17, 2020 at 3:44 pm GMT

After Japan’s unexpectedly large drop in GDP in the fourth quarter, factory, trade and inflation figures will come under the spotlight this week. Machinery orders and trade numbers will be released on Wednesday (Tuesday, 23:50 GMT), followed by CPI data (Thursday, 23:30 GMT) and the Jibun manufacturing PMI (00:30 GMT) on Friday. Although the Bank of Japan is not seen rushing to increase monetary stimulus, despite mounting recession risks, policymakers may not have much choice if the outlook does not [..]

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Week Ahead – Flash February PMIs eyed as virus outbreak shows few signs of slowing

Posted on February 14, 2020 at 11:09 am GMT

The preliminary PMIs for February will take centre stage next week as they will provide the first insight into the possible impact of the coronavirus on the global economy. The flash releases in the Eurozone, Japan, the United Kingdom and the United States should reveal how businesses outside of China have been affected by the outbreak with the risk that runaway equity markets may be handed a tough reality check. In other data, Australian employment and Canadian and UK retail [..]

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Japanese Q4 GDP may raise fresh concerns about outlook – Forex News Preview

Posted on February 14, 2020 at 10:41 am GMT

Japanese GDP number for Q4 in 2019 are coming up during the early Asian session on Monday at 01:50 GMT. Adding some significant pressure to Japan’s economy lately is the China’s coronavirus, which has threatened exports and factory output, as well as hitting tourism in the country. The economy expanded in the third quarter at a faster pace than anticipated, driven by stronger capital investment and private consumption ahead of the October 1 consumption tax increase. However, GDP is forecasted to print a negative reading of [..]

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A familiar story as Germany on brink of recession again, euro on the slide – Forex News Preview

Posted on February 12, 2020 at 2:03 pm GMT

Germany will report its first estimate of fourth quarter GDP growth on Friday (0700 GMT) as concerns resurface about the health of Europe’s largest economy, with the coronavirus outbreak adding to German businesses’ woes. The sluggish performance of the Eurozone’s growth engine continues to weigh heavily on the single currency, which has plumbed to fresh year-to-date lows this week. Growth to remain lethargic The German economy expanded at its slowest annual pace in six years in 2019, growing by just [..]

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Dollar rides high ahead of Powell testimony and key data – Forex News Preview

Posted on February 10, 2020 at 4:19 pm GMT

It’s an action-packed week in the States, with Fed chief Jay Powell testifying before Congress on Tuesday (15:00 GMT) and Wednesday, before CPI inflation and retail sales numbers are released on Thursday and Friday respectively, both at 13:30 GMT. If Powell maintains a relatively sanguine tone, that might come as a ‘hawkish’ surprise for a market that’s pricing in one and a half rate cuts by year-end. Overall, the dollar could continue to reign as ‘king’ of the FX market, [..]

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RBNZ to hold rates steady as concerns about virus outbreak grow – Forex News Preview

Posted on February 10, 2020 at 3:29 pm GMT

The Reserve Bank of New Zealand (RBNZ) will hold its first policy meeting of 2020 on Wednesday, announcing its decision at 01:00 GMT. Investors see a less than 10% chance that the RBNZ will cut interest rates in February, though with downside risks on the up, those low odds may soon start to crawl higher. Growing fears about the impact of the coronavirus have already pushed the New Zealand dollar to the bottom of the FX performance league table this [..]

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Q4 UK GDP growth may not move the pound much on Tuesday – Forex News Preview

Posted on February 10, 2020 at 12:49 pm GMT

Despite last week’s upbeat business data, the pound could not gain buying traction thanks to the dollar’s strength and rising concerns about how the UK-EU trade negotiations will develop later in the year. On Tuesday at 09:30 GMT, preliminary GDP growth readings for the final quarter of 2019 and December’s industrial production data will come out of the UK but the figures may prove unable to boost the British currency as traders are shifting attention to new year’s numbers. Upbeat PMIs [..]

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Week Ahead – RBNZ meeting, US retail sales and UK GDP to headline muted week

Posted on February 7, 2020 at 11:14 am GMT

As markets enjoy a bit of bounce back from the panic selling triggered by the outbreak of the deadly coronavirus, traders may struggle to keep the momentum going over the next seven days as things quieten down a little on the data front. Industrial production numbers out of the Eurozone, the United States and the United Kingdom will be the main release, though the focus will be on fourth quarter GDP estimates for the UK and on the latest retail [..]

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