Forex Previews

Deluge of US data unlikely to excite dollar, but risk tones might – Forex News Preview

Posted on May 27, 2020 at 9:29 am GMT

In America, there’s a flood of data coming up towards the end of the week. Durable goods orders and the weekly jobless claims are due at 12:30 GMT on Thursday, while Friday brings consumption and income numbers ahead of a speech by Fed chief Powell (15:00 GMT). For the dollar though, none of these is likely to have much of an impact. Instead, the reserve currency may be driven mainly by how risk sentiment evolves. Overall, it’s difficult to envision [..]

Week Ahead – US-China feud to stay under spotlight as data takes a backseat

Posted on May 22, 2020 at 12:04 pm GMT

Virus recovery hopes have gotten a boost after preliminary PMI readings for May rebounded more strongly than expected, underscoring the market optimism. But with economic releases set to quieten down in the coming week, Washington’s increasingly hostile language against China threatens to upset the dubious risk-on theme. Any panic-driven sell-off in risk assets could be accentuated from another anticipated plunge in personal consumption and durable goods orders in the US, which will be the main data highlights of the next [..]

Euro could get positive boost from flash PMI figures; ECB minutes on the agenda too – Forex News Preview

Posted on May 20, 2020 at 1:37 pm GMT

The Eurozone’s flash PMI readings for the month of May will hit the markets on Thursday at 08:00 GMT, likely showing a reviving business sector as most member states moved forward with their re-opening plans. The data are expected to contribute to the bullish atmosphere the German-Franco deal for a virus relief fund created for the euro this week, exposing the currency to fresh buying pressure. On Friday, the ECB meeting minutes could clarify if there is any willingness for [..]

UK PMIs unlikely to rescue pound from mounting risks – Forex News Preview

Posted on May 19, 2020 at 1:39 pm GMT

In Britain, the preliminary PMIs for May will hit the markets at 08:30 GMT Thursday, ahead of retail sales for April at 06:00 GMT on Friday. The PMIs are expected to rise, but to remain deep within contractionary waters, while retail sales are primed for a record collapse. As for the pound, it is being battered from all sides. The UK economy will reopen very slowly, investors are worried that today’s exploding deficit will result in austerity tomorrow, the BoE [..]

US flash PMIs may bring glimmer of hope as Fed minutes likely to be downcast – Forex News Preview

Posted on May 19, 2020 at 11:49 am GMT

Federal Reserve chief Jerome Powell has had a busy public speaking week and his schedule will remain busy as he testifies before Congress on Tuesday and participates in a ‘Fed Listens’ event on Thursday. The minutes of the April 28-29 FOMC meeting are also due this week (Wednesday, 18:00 GMT) and policymakers will likely strike a downbeat tone amid warnings of a slow recovery. However, with markets seeking any excuse – the latest being the Moderna vaccine trial – to [..]

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UK jobs and CPI data to kick start busy week for sterling as Brexit risks weigh – Forex News Preview

Posted on May 18, 2020 at 1:31 pm GMT

A raft of economic data is due out of the United Kingdom this week, starting with the labour market report on Tuesday and the consumer price index on Wednesday. Both will be released at the earlier than usual time of 06:00 GMT. Following last week’s dire GDP figures, traders should be braced for more depressing readings on the economy, with the March jobs numbers stealing the limelight early in the week. But as if things weren’t critical enough with the [..]

Week Ahead – Reopening woes and trade fears dent sentiment

Posted on May 15, 2020 at 12:44 pm GMT

The coming week seems relatively quiet. The preliminary PMIs for April in the UK, US, and Eurozone will give us an update on how much businesses have suffered, while the minutes of the latest Fed meeting might reaffirm the central bank’s willingness to do even more, even as Chairman Powell hints that Congress should take the lead. Overall though, the most important variables for investors may be how quickly new virus cases increase now that economies are partially re-opening, and [..]

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Japan set to enter recession but hope for rebound as state of emergency lifted – Forex News Preview

Posted on May 15, 2020 at 12:34 pm GMT

GDP numbers out of Japan will be headlining the start of the trading week as first quarter growth estimates are published on Monday local time (Sunday, 23:50 GMT). The world’s third largest economy is expected to have contracted for the second quarter in a row, meaning it has entered a technical recession even though Japan has opted against a strict lockdown. But Japan’s economic woes began before the outbreak of the coronavirus and this latest crisis only adds to the [..]

US retail sales could be the worst ever, but dollar may not react – Forex News Preview

Posted on May 14, 2020 at 9:11 am GMT

Millions of Americans have been applying for unemployment benefits the past two months as the business pressure stemming from the Covid-19 crisis had led to massive layoffs, increasing concerns about how deep consumption, which accounts for two thirds of the US economy, could crash at some point this year. US retail sales due on Friday at 12:30 GMT are expected to reinforce those worries, reflecting the steepest monthly decline in spending. However, the data may not necessarily expose the dollar [..]

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Aussie jobless rate could hit 2-decade high as government’s wage bill skyrockets – Forex News Preview

Posted on May 13, 2020 at 1:42 pm GMT

Australia is among the few fortunate countries that can claim success in quickly containing the spread of the coronavirus. But on Thursday, the latest employment report, due at 1:30 GMT, will reveal what the cost of that success was on the labour market. The number of job seekers is expected to have soared in April. But with the country’s lockdown being slowly relaxed, the primary concern for aussie traders now is how fast the recovery will be. Unemployment to jump [..]

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