Forex Previews

Eurozone inflation prints due ahead of Draghi’s ‘last hurrah’ – Forex News Preview

Posted on August 29, 2019 at 11:52 am GMT

The euro area’s preliminary CPI data for August will hit the markets at 09:00 GMT on Friday, and forecasts suggest that inflationary pressures remain muted. Another weak set of data could amplify expectations for an aggressive stimulus package by the ECB in September, keeping the euro under pressure. The big picture for the single currency is dark too, as the trade war combined with Brexit worries have brought the European economy to the brink of recession. The Eurozone seems to [..]

US core PCE inflation of little interest as a rate cut looks a done deal – Forex News Preview

Posted on August 28, 2019 at 2:36 pm GMT

Trade policy is not the Fed’s responsibility, but inflation definitely is, and the US central bank will act appropriately to elevate its favorite price measure back to its target. On Friday at 1230 GMT, July’s core PCE index will likely call for further monetary easing. The dollar, though, may shrug off the data and keep the focus on trade headlines as a rate cut is fully priced in by the markets.  Speaking at the Jackson hole annual symposium, Fed chair [..]

Canadian growth probably rebounded in Q2; unlikely to solve mystery about BoC’s next move – Forex News Preview

Posted on August 28, 2019 at 1:44 pm GMT

Canada will publish GDP growth numbers for the second quarter on Friday at 12:30 GMT. After a recent run of stronger-than-anticipated releases, the growth figures are not expected to buck the trend and should confirm the healthy state of the economy right now. However, with markets panicking about the fallout of the US-China trade war, Canada is not excluded from the predictions about an impending recession. This is evident in the exchange rate where the Canadian dollar is trading near [..]

Australian capex data eyed as trade war flares up – Forex News Preview

Posted on August 27, 2019 at 12:27 pm GMT

The ever-escalating trade conflict between Washington and Beijing has left deep scars on the aussie, both directly by clouding the outlook for Australia’s export-heavy economy and indirectly by making the RBA slash rates twice this year already. The nation’s capital expenditure data for Q2 may distract investors on Thursday at 01:30 GMT, but the bigger driver for the currency will be how the trade war evolves – and things aren’t looking good on that front. The aussie has been one [..]

Week ahead – Economic data and G7 summit highlight a calm week

Posted on August 23, 2019 at 1:09 pm GMT

There isn’t much on the calendar next week other than economic data, so it may be a relatively calm period as a turbulent summer draws to a close. The G7 summit in France could grab some headlines, but markets usually ignore such events. Instead, the focus may fall mainly on any trade news, as the US prepares to unleash new China tariffs on September 1. Euro area inflation numbers in sight as Draghi prepares for ‘last act’ In the euro [..]

EU flash PMI data among key releases for battered euro this week – Forex News Preview

Posted on August 21, 2019 at 11:29 am GMT

It might be another troublesome week for the euro as initial Eurozone PMI readings for the month of August could enhance the case for a heavier stimulus package by the European Central Bank. The reaction in the euro however will depend on the level of monetary easing investors have already priced in, with the Fed’s Jackson Hole and the G7 meetings affecting traders’ sentiment as well.  On Thursday at 0730 GMT the IHS Markit survey is likely to report further [..]

Fed minutes & Jackson Hole may pull dollar in opposite directions – Forex News Preview

Posted on August 20, 2019 at 11:50 am GMT

It will be a decisive week for the US dollar, with the minutes of the latest Fed meeting being released on Wednesday (18:00 GMT), before Fed chief Jay Powell delivers remarks at the Jackson Hole symposium on Friday (14:00 GMT). Since the minutes won’t reflect the latest escalation in trade, they could appear slightly hawkish relative to current market pricing, lifting the dollar. Any gains may remain short-lived though, if Powell opens the door for a prolonged easing cycle. Market [..]

Canadian CPI and retail sales data unlikely to halt BoC rate cut bets as yields invert – Forex News Preview

Posted on August 19, 2019 at 2:25 pm GMT

Canada is not synonymous with the trade war and economic slowdown and yet markets are giving warning signs that the country is headed for a recession. Recent economic indicators have been largely encouraging, pointing to accelerated growth. This week’s upcoming data on inflation (Wednesday, 12:30 GMT) and retail sales (Friday, 12:30 GMT) are expected to be consistent with this trend. And yet the Canadian dollar is hovering near two-month lows versus the greenback on market bets that the Bank of [..]

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Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]

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Australian jobs data to be eyed for “turning point”, as aussie stumbles to 10-year lows – Forex News Preview

Posted on August 13, 2019 at 6:23 am GMT

Wage and employment data will be watched out of Australia this week as investors try to guess how many more rate cuts are on the cards for the rest of the year. The wage price index is released first on Wednesday at 01:30 GMT, with the employment numbers coming up on Thursday, also at 01:30 GMT. Given the huge weighting the Reserve Bank of Australia is attaching to developments in the labour market in setting monetary policy, the upcoming data [..]

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