Forex Previews

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New Zealand’s inflation data: Let it ride – Forex News Preview

Posted on January 23, 2020 at 1:32 pm GMT

Fourth-quarter inflation numbers out of New Zealand are due at 21:45 GMT on Thursday, and forecasts point to a solid increase in the yearly CPI rate. If met, such a print would feed the narrative that the economy is getting its feet under it after a soft 2019, and further diminish the odds for the RBNZ to cut rates again in the coming months. That might help the kiwi recover somewhat, though the risks surrounding the currency seem increasingly asymmetric. [..]

UK PMIs to rebound in January but will it be enough to quash rate cut speculation? – Forex News Preview

Posted on January 22, 2020 at 3:11 pm GMT

The flash PMI releases due on Friday (9:30 GMT) for the United Kingdom will be highly significant as they could be the deciding factor for the Bank of England ahead of their rate setting meeting on January 30. There have been strong hints lately from BoE officials that a rate cut is very much on the table at the upcoming meeting after the economy stagnated at the end of 2019. But with much of that slowdown being attributed to political [..]

No fireworks at ECB meeting, but PMIs could drive euro – Forex News Preview

Posted on January 22, 2020 at 2:00 pm GMT

The European Central Bank (ECB) will conclude its policy meeting at 12:45 GMT on Thursday, and a press conference will follow at 13:30 GMT. If there is any change in tone from the ECB, it might be towards a slightly more upbeat narrative, though any major market reaction seems unlikely. Rather, the euro’s near-term direction might depend on the quality of the bloc’s latest PMI data, which are due at 09:00 GMT on Friday. ECB sidelined, but perhaps a slightly [..]

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Australian jobs data a major clue for RBA rate cut as bushfires rage on – Forex News Preview

Posted on January 22, 2020 at 9:40 am GMT

Australia hasn’t had the best start to 2020 as the bushfires that have been ravaging the country since October have only just started to subside, with the full economic impact yet to be seen. The December data – when the fires intensified – could reveal the extent to which the economy was hit by the devastating blazes. The first key report is Thursday’s employment numbers, due at 12:30 GMT. With the Reserve Bank of Australia already on an easing bias, [..]

Bank of Canada to hold rates steady but loonie could drift lower – Forex News Preview

Posted on January 21, 2020 at 4:31 pm GMT

The Bank of Canada is widely expected to hold interest rates steady on Wednesday at 14:00 GMT and set a new tone for 2020 as a layer of global uncertainty on the trade front has been removed. Markets, however, may have overpriced the positive developments, exposing the loonie to a downside correction if the BoC governor delivers cautious comments about the country’s 2020 performance. Yet, a rate cut in 2020 might not work in policymakers’ favor as household remain highly [..]

Bank of Japan to likely keep policy unchanged as risks subside – Forex News Preview

Posted on January 20, 2020 at 12:07 pm GMT

The Bank of Japan will be the first of the major central banks to hold its first monetary policy meeting of 2020 on January 20-21.  The Bank will also be releasing its quarterly Outlook Report together with its decision on Tuesday. Those hoping for some fireworks would have better luck holding out for the Bank of Canada’s and European Central Bank’s meetings later in the week as the BoJ is not expected to alter policy or its language. However, the [..]

Week ahead – ECB, BoJ, and BoC meet before crucial European and UK PMIs

Posted on January 17, 2020 at 1:41 pm GMT

It’s going to be an action-packed week, with three major central bank meetings and a storm of economic data likely to keep traders glued to their screens. The European Central Bank is unlikely to signal anything radical, so the euro might be driven mainly by the bloc’s PMI data. The Bank of Japan meeting could also be a snoozer, though there is a case to be made for the Bank of Canada to adopt a more dovish tone. In Britain, [..]

China’s GDP growth expected to stabilize as Phase One deal completed – Forex News Preview

Posted on January 16, 2020 at 2:35 pm GMT

China will report GDP numbers for the fourth quarter on Friday 02:00 GMT alongside industrial output and retail sales figures for December. After growth slowed to a three-decade low in the third quarter, will the optimism around the ‘phase one’ trade deal in the final three months of 2019 be enough to kick start the economy? No rebound expected just yet Economic growth in China has been steadily decelerating since 2010 and stood at just 6.0% year-on-year in the third [..]

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ECB minutes: Doves vs hawks in a framework review – Forex News Preview

Posted on January 14, 2020 at 4:10 pm GMT

The minutes of the latest European Central Bank (ECB) meeting are due at 12:30 GMT on Thursday. Investors will look for any details about the central bank’s framework review, and specifically, about whether the inflation target may be changed. ECB President Lagarde will speak a few hours later, at 18:00 GMT. As for the euro, the outlook still looks bleak, with economic growth barely positive and the risk of an escalation in US-EU trade tensions looming. Don’t celebrate yet The [..]

US inflation and retail sales data to drive dollar – Forex News Preview

Posted on January 13, 2020 at 3:31 pm GMT

It might be an interesting week for the greenback, with the latest CPI inflation numbers hitting the markets on Tuesday at 13:30 GMT, ahead of retail sales figures on Thursday. Overall, these are likely to confirm the American economy remains in good shape, reinforcing the Fed’s ‘on-hold’ stance. As for the dollar, its strength is unlikely to abate anytime soon, as there’s little alternative for investors seeking higher interest rates alongside safety. A decent house in a bad neighborhood The [..]

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