Forex Previews

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 [..]

Canadian inflation expected to fall back in June, confirm temporary bounce – Forex News Preview

Posted on July 16, 2019 at 6:44 am GMT

Canada will publish June inflation data on Wednesday at 12:30 GMT as well as retail sales numbers for May on Friday, also at 12:30 GMT. Following, the Bank of Canada’s surprisingly overcautious tone at the last policy meeting, investors will be watching to see if the upcoming data support the Bank’s view that the recent uptick in growth and inflation is temporary. However, that may still not be enough to halt the Canadian dollar’s advance against the US dollar, which [..]

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New Zealand inflation may leave door open for monetary easing – Forex News Preview

Posted on July 15, 2019 at 1:16 pm GMT

The Reserve Bank of New Zealand (RBNZ) has clearly stated in June that further monetary easing might be needed over time to help the central bank to meet its inflation and employment objectives. On Monday at 2245 GMT the Consumer Price Index (CPI) report is likely to show that inflation has heated up in the second quarter, but not sufficiently to scrap the need for more stimulus. The headline CPI is forecast to rebound from 0.1% to 0.6% quarter-on-quarter in the April-June [..]

US retail sales in focus as Fed ponders next move – Forex News Preview

Posted on July 15, 2019 at 10:20 am GMT

Retail sales numbers out of the United States will be scrutinized on Tuesday as investors try to keep alive hopes of a 0.50% rate cut by the Fed later this month. The retail sales data will be published at 12:30 GMT and will be followed by industrial production figures at 13:15 GMT. With the Fed July meeting fast approaching, the data could determine whether policymakers decide to go for a 25-basis points reduction, or a steeper 50-bps cut. The dollar [..]

Week ahead – Flurry of key data eyed as markets digest Powell’s cautiousness

Posted on July 12, 2019 at 11:45 am GMT

After Fed chief Powell all but guaranteed a July cut, things could quiet down a little next week, as the agenda is dominated by economic data. Growth figures from China may shed light on how much damage the trade war has inflicted, while in the US, retail sales numbers will be among the final pieces of the puzzle before the next Fed meeting. Inflation stats from New Zealand and Canada are also on tap, with some UK data perhaps attracting [..]

China’s Q2 GDP growth to pave way for more stimulus – Forex News Preview

Posted on July 11, 2019 at 3:50 pm GMT

GDP growth accompanied by industrial production, retail sales and urban investment readings will be out of China on Monday at 0200 GMT. Given the cloudy conditions on the trade front, the data are expected to reinforce speculation that extra stimulus may be needed to stabilize the economy in the coming months. The last time the Chinese economy picked up steam was in the first quarter of 2017 when expansion topped at 6.9% on a yearly basis. Since then, GDP growth has been [..]

China’s export data to shed light on trade war damage – Forex News Preview

Posted on July 10, 2019 at 9:06 am GMT

Trade figures from the world’s second-largest economy will be released early on Friday, with forecasts pointing to a modest contraction in both exports and imports. Markets will scrutinize exports in particular, for any signs of damage from the recent escalation in the trade war. Besides the yuan, the China-sensitive aussie could also react to these data. The trade ‘ceasefire’ between the US and China that was agreed in late June was greeted with relief in the markets, as it at [..]

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