Forex Previews

Canadian employment to rebound in July, but might not halt loonie’s slide – Forex News Preview

Posted on August 8, 2019 at 10:30 am GMT

Employment numbers out of Canada will be in focus on Friday at 12:30 GMT. As most other central banks rush to join the global rate cut frenzy, the jobs data will be watched closely for clues on whether the Bank of Canada is any closer to adopting an easing bias. However, despite the Bank of Canada’s neutral stance looking increasingly out of step with the rest of the world, the Canadian dollar has been on the slide since late July, [..]

British GDP data unlikely to rescue the Brexit-battered pound – Forex News Preview

Posted on August 7, 2019 at 1:51 pm GMT

The first estimate of UK GDP for Q2 is due at 08:30 GMT on Friday, with forecasts pointing to a stagnation in growth. If confirmed, that could raise the pressure on the BoE to abandon its tightening plans soon. As for the pound, the outlook remains negative as long as PM Johnson plays ‘chicken’ with Brussels, threatening a no-deal Brexit to extract concessions. For the tide to turn, markets may need signals for a General Election, which won’t come for [..]

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China’s exporters could have a painful summer as trade game turns more defensive – Forex News Preview

Posted on August 7, 2019 at 12:54 pm GMT

China played its exchange rate weapon this week to prove that it has the means to fight a tougher trade war with the US, but the Chinese government, like its major counterparts, also needs a solid economic floor to survive a bigger turmoil. Hence, trade and inflation data out of the country early on Thursday and Friday could be treated as clues on whether the world’s second biggest economy should proceed with more stimulus to enhance its financial dynamics. China’s exports to keep falling, [..]

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Japan Q2 GDP growth to slow as soaring yen risks ire of policymakers – Forex News Preview

Posted on August 7, 2019 at 9:29 am GMT

Japan will publish GDP figures for the second quarter on Friday (Thursday, 23:50 GMT), and is expected to join its peers in reporting slower growth for the period. As the Bank of Japan ponders whether to ramp up an already mammoth asset purchase program, will the GDP data nudge policymakers closer to pulling the trigger on more stimulus? Japanese growth likely eased back in Q2 Growth in Japan in the first three months of the year was an unexpectedly solid [..]

Week Ahead – RBA and RBNZ to keep up rate-cut rhetoric; UK and Japan to post Q2 GDP

Posted on August 2, 2019 at 1:32 pm GMT

It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]

New Zealand jobs to be eyed ahead of expected RBNZ rate cut – Forex News Preview

Posted on August 2, 2019 at 12:24 pm GMT

The Reserve Bank of New Zealand was the first of the major central banks to embark on an easing cycle when it lowered rates in May. It’s been on hold since then but that could be about to change next Wednesday (0200 GMT) as the RBZN is expected to deliver a second rate cut. Ahead of the policy meeting, however, quarterly employment numbers will be watched on Tuesday (Monday, 2245 GMT). Low business confidence a big concern New Zealand’s economy [..]

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RBA to stay on hold for now, as aussie takes a tumble – Forex News Preview

Posted on August 2, 2019 at 11:01 am GMT

The Reserve Bank of Australia is due to announce its next policy decision on Tuesday at 0430 GMT and is widely expected to keep interest rates unchanged, pausing after two consecutive cuts. However, with the Australian dollar coming under heavy selling pressure over the past week, its clear investors are anticipating more reductions in the months ahead. Hence, the language in the RBA’s statement will be carefully examined for clues about the likely scale of future cuts. RBA to pause [..]

US Nonfarm payrolls to steal the show after Fed’s rate cut – Forex News Preview

Posted on August 1, 2019 at 2:52 pm GMT

In a relatively busy week for the US calendar, the popular Nonfarm payrolls report will steal the show on Friday at 1230 GMT, two days after the FOMC policy meeting. It’s expected to indicate that the labour market is still a bright spot in the US economy and hence supportive of consumption. The data, however, are likely to leave the window open for further monetary easing in the year ahead as risks continue to linger on the horizon. In June, new job positions surged by a surprising 224k, surpassing [..]

BoE meets; spotlight on forecasts as risk of no-deal Brexit jumps – Forex News Preview

Posted on July 30, 2019 at 2:30 pm GMT

The Bank of England will announce its latest policy decision on Thursday at 11:00 GMT and will also publish its quarterly inflation report, followed by a press conference with Governor Mark Carney at 11:30 GMT. Markets are anticipating the Bank to strike a more dovish tone but whether this will involve signalling a rate cut is far from clear. What is certain, however, is that the meeting is unlikely to halt sterling’s slide, which is under pressure from the growing [..]

Fed rate decision: One cut at a time – Forex News Preview

Posted on July 30, 2019 at 1:01 pm GMT

The Federal Reserve is virtually certain to cut rates on Wednesday at 18:00 GMT – the question is how deep it will slash. A 50 basis points (bp) cut seems excessive given recent Fed commentary, so a 25bp move is probably on the cards instead. Since markets still price in a ~20% chance for a 50bp cut, the immediate reaction in the dollar may be higher. Whether any surge is sustained though, will depend on the signals that policymakers send [..]

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