Forex Previews

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Week Ahead – US GDP growth expected to surge in Q2; ECB meets – can it bring relief to sliding euro?

Posted on July 20, 2018 at 10:09 am GMT

The preliminary estimate of US GDP growth for the second quarter and the latest monetary policy meeting by the European Central Bank will be the most keenly awaited events of the next seven days. While there should be plenty of headlines from these two risk events, the remainder of the week is looking unusually quiet, with only Australian inflation, Eurozone flash CPIs and US durable goods standing out as notable releases. Australian inflation to rise within RBA’s target band Recent [..]

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Can Canada’s CPIs and retail sales help the loonie recover its poise? – Forex News Preview

Posted on July 19, 2018 at 12:58 pm GMT

Canada will see the release of its inflation and retail sales data on Friday at 1230 GMT. Forecasts point to an acceleration in price pressures and a sharp rebound in sales, which if confirmed, could enhance speculation for another BoC rate increase this year. Beyond economic data, any developments on the NAFTA front could also be crucial for the loonie’s forthcoming direction. When the Bank of Canada (BoC) raised interest rates last week for the second time this year, it [..]

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Japanese inflation to nudge up as BoJ considers cutting forecasts – Forex News Preview

Posted on July 18, 2018 at 9:11 am GMT

Inflation numbers for June will be watched out of Japan on Friday (Thursday, 23:30 GMT) ahead of the Bank of Japan’s policy meeting at the end of July. With progress towards meeting its 2% inflation target having stalled, the central bank might find some relief from an expected upward tick in core CPI. However, any acceleration in price growth is unlikely to be in enough in preventing the BoJ from lowering its inflation outlook when it meets later this month. [..]

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UK inflation & retail sales next to give direction to the pound – Forex News Preview

Posted on July 17, 2018 at 3:49 pm GMT

With the UK jobs report coming in line with forecasts, with the unemployment rate remaining at its lowest since the 1970s and average earnings inching down, the next challenge for sterling will come on Wednesday when the Office for National Statistics is scheduled to report June’s inflation readings before it updates retail sales figures for the same month on Thursday. While inflation is said to rebound again, potentially raising expectations for higher interest rates in August, policymakers could think twice before proceeding with a rate hike as retail sales could indicate that consumers are not ready for [..]

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Aussie turns its sights to Australia’s jobs data, as trade tensions take a break – Forex News Preview

Posted on July 17, 2018 at 2:12 pm GMT

Australian employment data for June will hit the markets on Thursday, at 0130 GMT. The forecast is for another solid jobs report, which would confirm the RBA’s view that the labor market continues to tighten and could help the aussie rebound somewhat. Besides economic data, the other major consideration for the battered Australian currency will be how global trade tensions evolve. Australia’s labor market had been on a tear throughout 2017, posting robust and consistent gains, though the pace of [..]

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UK jobs and wage figures eyed by Pound amid Brexit turmoil – Forex News Preview

Posted on July 16, 2018 at 3:03 pm GMT

The UK’s Office for National Statistics will publish its latest stats on the labour market on Tuesday at 08:30 GMT. The report will be the first of three major releases out of the UK this week, which come just a fortnight before the Bank of England’s August monetary policy meeting. With rate hike expectations rising to above 70% in recent weeks, those odds could be given an additional boost if this week’s data further reinforces the view that the first [..]

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Kiwi looks to inflation figures for much-needed support – Forex News Preview

Posted on July 16, 2018 at 1:56 pm GMT

New Zealand will see the release of its quarterly inflation data for Q2 on Monday, at 2245 GMT. Consensus expectations are for a solid rebound in the CPI rate, which although may be owed largely to energy effects, would still be slightly higher than what the RBNZ projected in its latest forecasts. Overall, the kiwi has plunged lately, while speculative positioning has reached stretched-short levels, which implies that any positive surprises in economic data moving forth could trigger larger-than-usual positive [..]

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Week Ahead – China GDP eyed amid escalating trade row; inflation data to dominate

Posted on July 13, 2018 at 12:43 pm GMT

China will publish second quarter growth figures next week, putting the focus on China’s economy which has been under attack by the Trump administration. Inflation numbers from Canada, Japan, New Zealand and the United Kingdom will also come under the spotlight, as well as employment reports out of Australia and the UK. It will be a quieter week for the United States where only a handful of releases are due, but investors will be watching for President Trump’s next move [..]

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US retail sales growth forecast to slow; Fed rate trajectory eyed – Forex News Preview

Posted on July 13, 2018 at 12:04 pm GMT

US retail sales data for June will be hitting the markets on Monday at 1230 GMT. Upbeat readings have the potential to boost market expectations for the delivery of two more rate hikes by the Federal Reserve by year-end, consequently boosting the dollar, and vice versa. Retail sales are anticipated to grow by 0.6% m/m in June, a weaker pace relative to May’s 0.8% which constituted the largest advance since November 2017 and lent credence to expectations for robust US [..]

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Aussie eyes raft of Chinese data as trade tensions lurk in the background – Forex News Preview

Posted on July 12, 2018 at 12:21 pm GMT

China will release its monthly trade balance data during the Asian session Friday, which will be followed by the nation’s quarterly GDP figures for Q2 early on Monday, alongside fixed asset investment, industrial production, and retail sales prints. The aussie – widely viewed as a liquid proxy for “China plays” – will be firmly in focus when these data are released, with the ongoing escalation in trade tensions between the US and China also a major consideration for its near-term [..]