Forex Previews

Loonie left behind in risk rally, can jobs data help? – Forex News Preview

Posted on July 8, 2020 at 1:47 pm GMT

The Canadian dollar has underperformed other G10 commodity currencies lately, eating the dust of the aussie and the kiwi since markets bottomed in March, despite a powerful rally in oil prices. This might reflect uncertainties emanating from the US, which Canada’s economy is highly exposed to, and the threat of new tariffs. The upcoming jobs data at 12:30 GMT Friday could finally bring some good news, though the loonie’s broader direction in the coming weeks will depend mostly on risk [..]

RBA to stay put as flare-up threatens Australia’s envious virus record – Forex News Preview

Posted on July 3, 2020 at 12:36 pm GMT

The Reserve Bank of Australia is almost certain to keep monetary policy unchanged on Tuesday when it announces its decision at 4:30 GMT. Australia is one of only a handful of countries that can boast a successful virus containment policy and that success bodes well for its economy as it allows the RBA to take a backseat, which in turn is boosting the local dollar. However, with even Australia now facing a resurgence of coronavirus cases in some districts, will [..]

Week Ahead – Markets torn between conflicting narratives

Posted on July 3, 2020 at 12:26 pm GMT

The coming week looks relatively quiet in terms of crucial events, with the only highlights being the Reserve Bank of Australia (RBA) policy meeting and some economic data out of the US and Canada. As such, the dominant theme that will likely drive both currency and equity markets will be how the global virus picture evolves, particularly in the US, as the epic battle between stimulus-powered bulls and virus-fearing bears rages on. Bears wave the white flag Global markets continue [..]

Nonfarm payrolls: A battle between risk taking and safety – Forex News Preview

Posted on July 1, 2020 at 11:30 am GMT

The ISM manufacturing PMI is due today at 14:00 GMT and June’s Nonfarm payrolls will be released on Thursday, a day earlier than usual, at 12:30 GMT as US markets will be shut on Friday for July 4th celebrations. While another upbeat outcome is expected to boost risk sentiment, investors might catch themselves between virus fears and improving data, capping any potential gains. Covid-19 resurgence: a global wake-up call  The health community has been repeatedly warning that the removal of lockdown [..]

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Australian retail sales and China PMI may stir but not break aussie’s range – Forex News Preview

Posted on June 30, 2020 at 1:15 pm GMT

As markets grapple with the real threat of escalating virus cases derailing the global economic recovery, the risk-sensitive Australian dollar will be keeping an eye on a number of indicators out of Australia and China this week. The Caixin/Markit manufacturing PMI due from China on Wednesday (1:45 GMT) and Australian retail sales figures out on Friday (1:30 GMT) will be the main highlights for traders. Virus and economic success keep aussie supported After what seemed like an unstoppable rally, growing [..]

Fed minutes could upset markets – Forex News Preview

Posted on June 30, 2020 at 9:47 am GMT

It’s a packed week in America, where Fed Chairman Powell will testify at 16:30 GMT Tuesday, ahead of the minutes of the latest FOMC meeting at 18:00 GMT Wednesday. The crucial jobs numbers for June will follow Thursday. In a nutshell, the minutes could show a Fed that’s still hesitant towards yield curve control, much like Powell seemed back at that meeting. If so, that might lift the dollar and hurt stocks a little, but in the bigger picture, how [..]

Week Ahead – NFP in focus as US virus cases spike, recovery in doubt

Posted on June 26, 2020 at 12:10 pm GMT

As the risk rally fizzles out amid rising concerns about a second wave of virus infections in the United States, the all-important jobs report has the capacity to either calm or scare jittery markets. With very few other top tier releases on the agenda next week, it’s hard to see anything other than the virus story driving investor sentiment. Special attention will be on the escalation of Covid-19 cases in the US and whether any states begin to reverse some [..]

After disappointing PMIs, core inflation and personal consumption next on dollar’s agenda – Forex News Preview

Posted on June 24, 2020 at 10:48 am GMT

The Fed’s favourite inflation index will hit the markets on Friday at 12:30 GMT along with personal consumption and income readings. The data could reflect a recovering appetite for consumption which could consequently give some room for improvement to the dollar. However, the gains could be modest as weakness in inflation may suggest more delays in reaching the central bank’s target. Still, upside pressures cannot be ruled out in the years ahead. Consumers start spending more, but inflation may remain [..]

RBNZ meeting: Talking down the kiwi? – Forex News Preview

Posted on June 22, 2020 at 3:20 pm GMT

The Reserve Bank of New Zealand will wrap up its policy meeting at 02:00 GMT Wednesday, and while no action is expected, the choice of language could be crucial. Recent developments in New Zealand have been encouraging, which alongside stronger risk appetite globally, have catapulted the kiwi much higher. So high in fact, that the RBNZ may be feeling a bit uncomfortable with its current levels. Will policymakers ‘talk down’ the currency? Virus free, ahead of schedule New Zealand is [..]

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UK PMIs to recover further as economy reopens, but Brexit fears rattle pound – Forex News Preview

Posted on June 22, 2020 at 3:13 pm GMT

Preliminary PMI numbers for June will be watched out of the United Kingdom on Tuesday at 08:30 GMT. As the UK economy slowly emerges from the virus shutdown, the PMI gauges are anticipated to reflect the reopening of some businesses. But as Prime Minister Boris Johnson prepares to announce the latest phase of the lockdown easing, there are other things troubling the pound. A worsening stand-off between British and EU negotiators in the Brexit talks has derailed cable’s rebound, even [..]

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