Forex Previews

Week Ahead – US PCE inflation, BoC meeting and Aussie Q1 capex eyed amid rising risk aversion

Posted on May 24, 2019 at 9:58 am GMT

As trade tensions continue to simmer and there’s no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep a watch on. PCE inflation numbers from the United States, Canadian Q1 GDP estimates and a Bank of Canada meeting, as well as capital expenditure figures from Australia will be the main highlights. Aussie to stay on [..]

US durable orders eyed as dollar remains ‘king’ – Forex News Preview

Posted on May 23, 2019 at 12:10 pm GMT

The next highlight for the dollar will be the release of US durable goods orders for April, on Friday at 12:30 GMT. Forecasts point to a soft set of data, possibly due to weakness in demand for commercial aircraft. While a disappointment may hurt the dollar on the news, the broader outlook for the greenback remains positive as long as other major currencies continue to lack appeal. New orders for durable goods are forecast to have contracted by 2.0% on [..]

Small uptick expected in Eurozone PMIs as euro struggles ahead of European elections – Forex News Preview

Posted on May 22, 2019 at 6:36 am GMT

As the euro searches for a bottom, business survey data out of the Eurozone this week could help the single currency put a floor under its recent declines. The flash PMIs from IHS Markit for May will be released on Thursday at 08:00 GMT, along with Germany’s Ifo business sentiment gauge due at the same time. However, even if the survey numbers manage to bolster the euro, dangers lie ahead as a rise in support for populist parties at the [..]

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Japanese exports to remain weak, inflation to inch higher in April – Forex News Preview

Posted on May 21, 2019 at 3:13 pm GMT

Following the unexpectedly strong Q1 GDP data out of Japan this week, the focus now turns to April trade numbers on Wednesday (Tuesday, 23:50 GMT) and inflation figures on Friday (Thursday, 23:30 GMT). Despite the impressive growth figures, worries remain about the outlook for Japan’s economy as the October sales tax hike nears and trade tensions escalate. Investors will therefore be watching carefully how the economy evolves over the next few months for signs the Bank of Japan would need [..]

Fed minutes may give the dollar a helping hand – Forex News Preview

Posted on May 21, 2019 at 12:01 pm GMT

The minutes of the latest Fed meeting are due out at 18:00 GMT on Wednesday. Chairman Powell was less cautious than markets had anticipated back then, downplaying the prospect of rate cuts. The minutes could echo a similar message, particularly since this gathering took place before the latest escalation in trade tensions. If so, that may trigger a slight unwinding of market rate-cut bets, lifting the dollar.   Fed Chairman Powell ‘calmed’ investors back at the May meeting, indicating that [..]

UK inflation to tick higher, retail sales to fall back but pound’s eye on European elections – Forex News Preview

Posted on May 21, 2019 at 6:47 am GMT

Inflation and retail sales numbers for April will be reported out of the United Kingdom this week, but with political uncertainty running high, the focal point for traders will likely be the outcome of the European Parliament elections. The CPI and retail sales data are due on Wednesday and Friday, respectively, at 08:30 GMT, while UK voters will be going to the polls on Thursday to take part in European elections that the UK was not supposed to participate in. [..]

Week ahead – European elections & PMIs, Fed minutes, and much more

Posted on May 17, 2019 at 12:40 pm GMT

While lacking in central bank meetings, the coming week is still a busy one. A poor showing by the UK Conservatives in the European Parliament elections could make it even more likely that Theresa May is replaced with someone that wants to deliver Brexit ‘no matter what’, keeping the pound on the back foot. Meanwhile, preliminary Eurozone PMIs are unlikely to change the euro’s fortunes, while the Fed minutes may strike a ‘neutral’ tone, leading to a slight unwinding of [..]

Japan’s economy likely contracted again in Q1; what next for the BoJ? – Forex News Preview

Posted on May 16, 2019 at 2:49 pm GMT

Japan will be post GDP growth figures for the first quarter on Monday (Sunday, 23:50 GMT). But with trade uncertainty still weighing heavily on export-dependent Japanese businesses, the data is unlikely to bring music to policymakers’ ears as the world’s third largest economy is expected to have contracted during the period.  After achieving non-interrupted growth for eight consecutive quarters in 2016-2017 – the longest stretch in nearly three decades, Japan’s economy hit a stumbling block in 2018 as trade tensions [..]

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Canadian CPI inflation follows upbeat employment report – Forex News Preview

Posted on May 14, 2019 at 3:41 pm GMT

After a solid employment report, the next important release for the Canadian currency is the inflation figures on Wednesday at 1230 GMT. While forecasts are positive, the Bank of Canada (BoC), like most of its major counterparts, is not expected to change its neutral stance on interest rates, not before the domestic economic picture brightens and global headwinds calm. In late-April, the BoC left interest rates unchanged and lowered its 2019 growth forecasts from 1.7% in January to 1.2%, with [..]

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Battered aussie looks to wage growth and jobs numbers – Forex News Preview

Posted on May 14, 2019 at 3:03 pm GMT

After taking a beating from an escalation in US-China trade tensions, the Australian dollar will now look to the nation’s wage growth data for Q1, due at 00:30 GMT on Wednesday. The all-important employment stats for April will follow on Thursday at 01:30 GMT; they may prove crucial in determining whether the RBA will cut rates soon. The Reserve Bank of Australia (RBA) held off from cutting interest rates the last time it met, but kept that option very much [..]

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