Forex News

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Week Ahead – ECB tapering decision looms; BoC also meets; UK and US GDP eyed

Posted on October 20, 2017 at 4:13 pm GMT

The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US will be in focus. Other major data will include Japanese and Australian inflation and Eurozone PMIs. Japan’s Abe’s election gamble likely to pay off Recent [..]

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Forex News – Preview – Canadian inflation and retail sales data eyed before BoC meeting

Posted on October 19, 2017 at 12:30 pm GMT

Inflation and retail sales numbers out of Canada on Friday will be scrutinized for clues to a possible year-end rate hike by the Bank of Canada, following recent remarks from BoC Governor Stephen Poloz that suggested a pause after two consecutive hikes. The Canadian dollar has rallied by over 7% against its US counterpart this year as growth in the country has exceeded expectations, prompting the central bank to raise rates by a total of 50 basis points to 1.00%. [..]

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Forex News – UK data adds pressure for rate hike but less hawkish BoE raises scepticism about willingness

Posted on October 18, 2017 at 2:45 pm GMT

Inflation in the United Kingdom rose to the highest in 5½ years in September, reaching 3% year-on-year, data out on Tuesday revealed. The figure is one full percentage point above the Bank of England’s target of 2%, adding pressure on policymakers to reign in the build-up in prices being generated by sterling’s depreciation following the Brexit referendum. Labour market data released today further supported the case for a rate hike as wage growth came in above expectations. Average weekly earnings [..]

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Forex News – UK inflation gives way for rate hike; pound posts short-lived gains on dovish BOE remarks

Posted on October 17, 2017 at 2:15 pm GMT

UK inflation in September rose to a 5 ½ -year high according to the Office for National Statistics, gaining one percentage point above the BOE’s 2% target and igniting speculation that a rate hike could emerge in the BOE’s November meeting. However, the pound could not sustain the uptick triggered by the data, giving away its gains, after the BOE chief and deputy governor held a dovish stance during parliamentary testimony. Headline consumer prices matched expectations, increasing by 3.0% y/y in September but remaining close [..]

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Week Ahead – UK inflation, Japanese trade data among week’s important releases; Party Congress eyed in China

Posted on October 13, 2017 at 3:09 pm GMT

Next week’s economic releases, which includes UK inflation figures, can determine the future path of monetary policy for major economies, while political events, such China’s five-yearly Communist Party Congress commencing on Wednesday, perhaps have the capacity to steer developments for the years to come. Chinese Party Congress, Japanese trade data and elections further ahead and Australian employment to be closely watched Data on producer as well as on consumer prices for the month of September will be released out of [..]

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Week Ahead – US retail sales, inflation and Fed minutes in focus in quiet data week

Posted on October 6, 2017 at 2:36 pm GMT

In a relatively light calendar week, US economic indicators will be at the forefront, along with data out of China, the Eurozone and the United Kingdom. Inflation and retail sales numbers will be the highlights coming out of the United States, while industrial output and trade data will be the focus in non-US markets. The Federal Reserve will also be making headlines as it publishes its September meeting minutes and more Fed officials make public appearances. China releases trade data [..]

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Forex News – UK services PMI lifts pound off 3-week lows but growth lags Eurozone

Posted on October 4, 2017 at 11:30 am GMT

Manufacturing and services PMI released in the UK this week indicate the British economy continues to expand at a moderate pace, easing concerns of a sharper slowdown or a recession as the Brexit uncertainty bites on growth. However, when put against the backdrop of a weaker sterling and accelerating growth elsewhere in the world, notably the Eurozone, recent UK economic data leaves much to be desired. Data out on Monday showed the IHS Markit/CIPS manufacturing PMI eased to 55.9 in [..]

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Forex News – Euro and pound underperform on heightened political worries

Posted on October 2, 2017 at 3:09 pm GMT

Just a week after an indecisive general election outcome in Germany threatened to derail the euro rally, a separatist vote in Spain’s Catalonia region on Sunday has further dampened sentiment for the single currency at the start of trading in the fourth quarter. The pound has also started the new quarter on a weak note as uncertainty about the UK’s Brexit strategy and doubts about Theresa May’s fragile government have pulled sterling below the key $1.33 level. An attempt by [..]

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Week Ahead – US jobs report and ISM PMIs eyed as dollar rallies again; RBA meets

Posted on September 29, 2017 at 3:07 pm GMT

The US dollar just had its most positive week of 2017, driven by firming expectations of a December rate hike. Data out of the US next week will therefore be watched very carefully for further evidence supporting this view. Also coming under the limelight next week is the Reserve Bank of Australia, which meets for a scheduled monetary policy meeting, while Canadian employment figures, ECB meeting minutes, UK PMIs and the Bank of Japan’s Tankan survey will too be watched [..]

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Forex News – Kiwi slides amid political uncertainty as parties haggle out coalition deal

Posted on September 26, 2017 at 2:54 pm GMT

The New Zealand dollar has slid by almost 2% over the past two days as an inconclusive election result has opened the prospect of weeks of uncertainty as the main political parties attempt to form a coalition government. Saturday’s general election in New Zealand failed to give the ruling National Party the majority they were hoping for, instead losing three seats in the preliminary results, while the Labour opposition party gained 13 seats, leaving the New Zealand First party holding [..]

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