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Australian core CPI to undershoot RBA’s inflation target – Forex News Preview

Posted on April 23, 2018 at 3:45 pm GMT

Inflation in Australia failed to meet the Reserve Bank of Australia’s price target in the fourth quarter of 2017, similar to many other major economies, and updates on consumer prices adjusted for volatility early on Tuesday are expected to say the same story, kicking any hopes of a rate hike further into the future. At 0130 GMT on Tuesday, data prepared by the Australian Bureau of Statistics are expected to show that the headline Consumer Price Index (CPI) has ticked up to 2.0% on a yearly basis in the first quarter of [..]

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Eurozone PMIs poised to show further loss of momentum ahead of ECB meeting – Forex News Preview

Posted on April 20, 2018 at 12:28 pm GMT

The Eurozone will see the release of its preliminary PMI prints for April on Monday, at 0800 GMT. Forecasts point to further cooling of economic activity, something likely to be discouraging news for ECB policymakers, who will announce their monetary policy decision on Thursday. In April, Eurozone’s Markit manufacturing PMI is forecast to decline to 56.1, from 56.6 in March, while the services index is anticipated to dip to 54.6, from 54.9 previously. The composite figure – which blends the [..]

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Week Ahead – Euro and yen seek direction from ECB and BoJ; preliminary Q1 GDPs start rolling in

Posted on April 20, 2018 at 12:17 pm GMT

Attention will shift to monetary policy next week as the European Central Bank and the Bank of Japan hold scheduled policy meetings. GDP will come into focus too, with preliminary readings for the first three months of 2018 expected out of the United Kingdom, the United States and France.  Also important will be the flash April PMIs for the Eurozone, Japan and the US.  Australian inflation eyed after disappointing job figures The Australian dollar mostly shrugged off disappointing employment numbers [..]

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Japanese inflation to lose momentum keeping BoJ on stimulus path – Forex News Preview

Posted on April 19, 2018 at 1:39 pm GMT

Early on Friday, data out of Japan are expected to show that inflation in the world’s third-largest economy was unable to speed up in March as the winter season was coming to an end, adding more uncertainty as regards the timing the Bank of Japan (BoJ) will start normalizing policy. The figures could also signal that a stronger exchange rate continues to feed deflationary pressures at a time when subdued real wages are undercutting consumers’ purchasing power.  According to forecasts, the core nationwide Consumer Price Index (CPI) for the month of March is said to have eased [..]

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Australia turns its sights to employment report and may help Aussie to regain some poise – Forex News Preview

Posted on April 18, 2018 at 9:05 am GMT

Australia’s employment report for March is likely to attract attention and is scheduled for release on Thursday at 0130 GMT. The unemployment rate is forecasted to tick lower to 5.5% for the month of March versus 5.6% the preceding month, while the employment change is expected to show that the economy added 3,500 jobs, much more from the previous month. Meanwhile, the participation rate is predicted to remain unchanged at 65.7%. Could a stronger than expected employment data affect the local currency? The employment report [..]

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Bank of Canada to remain on hold, may retain a cautious bias for now – Forex News Preview

Posted on April 17, 2018 at 3:38 pm GMT

The Bank of Canada (BoC) will announce its monetary policy decision on Wednesday at 1400 GMT, and expectations are for policymakers to refrain from raising rates for the second meeting in a row. While inflation edged up recently, the economy slowed and trade risks have remained elevated, presenting a dilemma for the Bank. On balance, officials may retain a cautious bias for now, while they monitor both economic data and trade developments. The BoC appeared quite cautious when it last [..]

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New Zealand inflation expected to fall to lower target band as kiwi stalls at $0.74 – Forex News Preview

Posted on April 17, 2018 at 12:57 pm GMT

Quarterly inflation numbers out of New Zealand on Thursday are expected to show the country’s CPI rate moving back towards the lower end of the Reserve Bank of New Zealand’s target band. The data (due at 22:45 GMT on Wednesday) would likely reaffirm expectations that the RBNZ will be on hold for a while longer. After spiking to 2.2% in the first three months of 2017, annual inflation has been steadily slowing. It is forecast to fall to 1.1% in [..]

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Chinese GDP growth to edge down in Q1 2018 – Forex News Preview

Posted on April 16, 2018 at 5:16 pm GMT

China, the second largest economy in the world and the third top destination for foreign direct investments after the US and the UK will see the release of GDP growth for the first quarter of 2018 on Tuesday at 0300 GMT along with readings on industrial production and retail sales. The economy, which has transformed from an agricultural country to a manufacturing exporter, is expected to slow down in the first three months of the year as measures to mitigate [..]

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Dollar bulls eye Fed speakers as USDJPY climbs back above 50-Day MA – Forex News Preview

Posted on April 16, 2018 at 3:24 pm GMT

Members of the Federal Open Market Committee (FOMC) have a busy schedule ahead this week as many of them are lined up to make public appearances. Investors will be looking for a hawkish tilt in policymakers’ views after one FOMC member, Eric Rosengren, fuelled speculation of four rate hikes this year in a speech last week. Further talk of a likelihood of more than three rate increases in 2018 could boost the greenback’s recovery from the 16-month low of 104.55 [..]

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Raft of crucial UK data releases set to guide sterling – Forex News Preview

Posted on April 16, 2018 at 2:38 pm GMT

It’s going to be a busy week for sterling traders. The UK will release its employment figures for February on Tuesday at 0830 GMT, while inflation and retail sales data for March will follow at the same time on Wednesday and Thursday respectively. Wages are projected to have picked up speed, while inflation is anticipated to have risen at the same pace as previously, pushing real wage growth back into positive territory. Such prints would likely be encouraging news for [..]

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