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Bank of Japan meets amid growing downside risks and stronger yen – Forex News Preview

Posted on January 21, 2019 at 3:55 pm GMT

The Bank of Japan will hold its first monetary policy meeting of 2019 on January 22-23, and unlike this time last year when there was a real prospect of a QE exit, policymakers will probably be discussing if or how to respond to the weakening outlook. There is no set time for the BoJ’s announcement on Wednesday, but the yen could come under some downside pressure if the Bank lowers its economic forecasts in its latest quarterly outlook report, due [..]

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UK pay growth to briefly steal limelight from Brexit developments – Forex News Preview

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

The UK labour market report for November will be watched on Tuesday at 09:30 GMT for the latest view on unemployment and wage growth in the Brexit-hit economy. While happenings in Westminster will be the main focus for investors, another solid set of jobs data could provide some support for sterling amid the deepening Brexit uncertainty. Britain’s unemployment rate was unchanged at near 4-decade lows in the three months to October at 4.1% and is expected to stay at that [..]

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New Zealand Q4 CPI to keep rate cut odds alive – Forex News Preview

Posted on January 21, 2019 at 2:16 pm GMT

New Zealand CPI figures will steal the spotlight on Tuesday at 2145 GMT to show that the headline inflation rate stretched lower in the fourth quarter, missing the central bank’s midpoint price target of 2.0% for 2018. That being so, and in consideration of the rising global risks, the Reserve Bank of New Zealand (RBNZ) will not rush to raise interest rates. According to analysts, in the three months to December, the headline Consumer Price Index (CPI) dropped by 0.9 percentage points relative to [..]

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Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]

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Canadian inflation figures due as loonie tracks oil prices – Forex News Preview

Posted on January 17, 2019 at 4:19 pm GMT

The latest inflation data out of Canada will hit the markets on Friday, at 1330 GMT. While these figures are always important for market expectations around future Bank of Canada (BoC) rate hikes, the loonie’s overall direction may depend mostly on how oil prices perform going forward, given the resurgent correlation between these two assets. The loonie staged a remarkable rebound to start the new year, clawing back some of the losses it recorded in the final months of 2018, [..]

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China’s Q4 GDP growth to flash red – Forex News Preview

Posted on January 16, 2019 at 1:26 pm GMT

China will report GDP growth figures for the fourth quarter of 2018 early on Monday at 0200 GMT, potentially injecting further volatility to the markets as investors search for more convincing clues on how bad the US-Sino trade war can hurt. Forecasts are for a slightly smaller annual expansion of 6.4% (1.5% q/q), the lowest rate achieved in almost a decade.   In the third quarter, the Chinese economy geared down for the third consecutive time, marking an annual growth [..]

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UK inflation and retail sales data to get eclipsed by Brexit drama – Forex News Preview

Posted on January 15, 2019 at 1:40 pm GMT

Key data releases out of the UK are likely to once again find themselves fighting for attention amid a deepening Brexit turmoil. But although there will be bigger stories than economic indicators dominating the headlines for sterling traders over the next few days, the data could nevertheless provide some clues as to the likelihood of a Bank of England rate hike should the Brexit storm clear up. The CPI report is due on Wednesday at 09:30 GMT, while the retail [..]

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Sterling in focus as UK Parliament prepares to vote on Brexit deal – Forex News Preview

Posted on January 14, 2019 at 4:01 pm GMT

British lawmakers will hold the “meaningful vote” on the government’s Brexit deal on Tuesday evening. The accord is widely expected to be voted down, and although that may hurt sterling initially, the currency’s broader direction will probably depend more on what happens next. Overall, the biggest tail risk for the pound – a no-deal exit – seems to be gradually abating, thereby brightening the prospects for the UK currency. It’s going to be another crucial week for Brexit, setting the [..]

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Week Ahead – Brexit crunch time as MPs to vote on May’s deal; inflation data to dominate

Posted on January 11, 2019 at 12:29 pm GMT

Brexit fatigue looks set to reach a climax next week as UK lawmakers will finally get their say on Theresa May’s deal. But with little chance of the deal passing through Parliament, stormy days lie ahead for sterling. On the data front, inflation will be the dominant theme, while the US housing market will also come under the spotlight, assuming the government shutdown doesn’t cause a delay to the scheduled releases. Chinese trade figures eyed China will publish its latest [..]

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Dollar to take a special look at US CPI – Forex News Preview

Posted on January 10, 2019 at 1:44 pm GMT

Since it is uncertain how long the impasse over funding Trump’s wall will keep parts of public services closed in the US including the Bureau of Economic Analysis, which is responsible to update the core PCE index, the core CPI figure will attract extra attention this week. Should the measure beat forecasts, suggesting that inflation is well anchored, investors may turn more positive that the Fed may not abandon its rate hiking plans this year. On Friday at 1330 GMT, the [..]

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