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ECB monetary easing warranted, flash GDP growth and inflation eyed next – Forex News Preview

Posted on July 30, 2019 at 12:21 pm GMT

The Flash Harmonized Consumer Price Index (HCPI) and initial GDP growth estimates will be on the watchlist early on Wednesday. Following a dovish policy meeting by the European Central Bank last week, the data could assure markets that further monetary easing is the right choice for the months coming ahead. What markets don’t know yet though is the size and the duration of the upcoming stimulus package, with investors and hence the euro eagerly waiting this week’s data to give [..]

Australian inflation to inch higher but unlikely to stop RBA from cutting rates further – Forex News Preview

Posted on July 30, 2019 at 8:27 am GMT

Australia will publish quarterly inflation data on Wednesday at 01:30 GMT amid a stepping up by the Reserve Bank of Australia in its efforts to spur price growth. The RBA has cut rates twice since June on slowing economic growth and stubbornly low inflation and so the latest readings on the consumer price index (CPI) will be dissected for clues on the prospect of additional easing by the central bank. The Australian dollar is looking highly vulnerable ahead of this [..]

Week ahead – Fed, BoJ, and BoE meet ahead of US payrolls

Posted on July 26, 2019 at 9:36 am GMT

Investors will be glued to their screens next week, with a plethora of central bank meetings and an avalanche of data releases set to provide ample excitement. The Fed is certain to slash rates, though probably only by a quarter-point, which may briefly lift the dollar given expectations for even more aggressive action. The BoJ and BoE are both likely to soften their tones, while in the euro area, growth and inflation data may decide how forcefully the ECB acts [..]

Bank of Japan to mull more easing as inflation falls to 2-year low – Forex News Preview

Posted on July 26, 2019 at 9:30 am GMT

The Bank of Japan will announce its latest policy decision on Tuesday. There is no set time for the announcement, but they are usually made slightly before 03:00 GMT. As the BoJ’s peers have begun cutting or are planning to cut rates, pressure is growing on the central bank to ramp up its already massive stimulus program. But with few tools left at their disposal, policymakers are likely to be hesitant before approving a new round of easing. Making matters [..]

US GDP data may dampen rate-cut bets, lift dollar – Forex News Preview

Posted on July 24, 2019 at 1:00 pm GMT

The first estimate of US GDP for Q2 is due at 12:30 GMT on Friday, and may be crucial in shaping the narrative over how deep the Fed will cut rates next week. While a 25 basis points (bp) cut is certain, markets also assign a ~20% chance for a ‘double’ cut of 50bp, which seems excessive. Hence, the dollar may have room to recover for now, if these aggressive bets are scaled back. The US economy likely grew at [..]

ECB to guide on more stimulus – Forex News Preview

Posted on July 23, 2019 at 11:01 am GMT

Three months before Draghi’s departure, chances for a looser monetary policy are rising higher as heightening global risks are threatening to keep the European Central Bank (ECB) on guard. Nevertheless, more stimulus will likely be a matter of guidance for the future at Thursday’s policy meeting rather than an order for execution despite expectations for a weaker flash composite PMI. Eurozone flash Composite PMI to inch lower The ECB is struggling as Eurozone economic indicators have yet to show any sign of improvement, while [..]

Week Ahead – ECB edges closer to more stimulus; US reports Q2 GDP; UK to get new PM

Posted on July 19, 2019 at 9:48 am GMT

The European Central Bank is expected to steal the limelight from the Federal Reserve next week as it meets to discuss fresh stimulus measures for the Eurozone’s troubled economy. But the Fed will still be on investors’ minds as the preliminary report on US GDP growth in the second quarter could determine whether it opts for an aggressive rate cut later this month. Meanwhile, the pound’s rollercoaster ride is expected to extend into next week as the result of the [..]

Australian jobs growth to pull back in June; RBA likely to show patience – Forex News Preview

Posted on July 17, 2019 at 9:50 am GMT

The Reserve Bank of Australia (RBA) showed willingness to engage in further monetary easing at the July meeting but the weakness in the US dollar helped the Australian currency to recoup its losses and reach its latest peaks. On Thursday at 0130 GMT, the closely watched jobs report out of the country may indicate that the RBA’s strategy is in the right direction, putting the rally under test again. Nevertheless, policymakers are expected to stand pat on interest rates next [..]

Japanese trade and CPI data eyed ahead of upper house elections – Forex News Preview

Posted on July 16, 2019 at 2:53 pm GMT

Trade and inflation numbers will be watched out of Japan this week ahead of the weekend elections for Japan’s upper chamber. The June trade data is due on Wednesday at 23:50 GMT, while the inflation figures for the same month will be published on Thursday at 23:30 GMT. Both releases are projected to point to a softening in Japan’s economic picture in a potential warning sign for the Bank of Japan. But with Prime Minister Shinzo Abe’s coalition expected to [..]

UK data on tap as no-deal Brexit fears strike back – Forex News Preview

Posted on July 16, 2019 at 10:06 am GMT

With the new UK Prime Minister not expected to be announced until next week, Brexit news could remain scarce for now, shifting the focus back to data. Inflation figures for June are due on Wednesday, before retail sales numbers on Thursday, both at 08:30 GMT. The pound remains at very low levels as fears of a no-deal Brexit have returned, and while the worst may not be over in this sense, there is a saving grace: further weakness in the [..]

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