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After foray into QE, RBA to stand pat at April meeting – Forex News Preview

Posted on April 3, 2020 at 12:54 pm GMT

The Reserve Bank of Australia was one of the few central banks among advanced economies that was not dragged into the world of quantitative easing (QE) during the 2008 financial crisis. But having already been bruised by the US-China trade dispute, it was clear the Australian economy would not be as fortunate in the current crisis from the virus pandemic. As had been widely anticipated, the RBA joined the QE club after holding an emergency meeting on March 18. With [..]

Week Ahead – Another dose of the virus blues?

Posted on April 3, 2020 at 12:38 pm GMT

The pandemonium in financial markets has calmed down somewhat, but that serenity seems fragile and investors will keep a close eye on how fast the virus is spreading in America, which is now entering the most painful phase. On the bright side, Europe looks close to a ‘peak’ in new cases. That said, markets will probably remain nervous until the US shows signs of stabilization too, and since that point might be weeks away, risk aversion could linger. As for [..]

Nonfarm payrolls: Too early for the real carnage – Forex News Preview

Posted on April 2, 2020 at 8:52 am GMT

The all-important US employment report for March will see the light at 12:30 GMT on Friday, and investors will be anxious to find out exactly how many Americans lost their jobs at the onset of the virus crisis. Alas, since these data were collected in the first half of March, before many of the virus-related shutdowns, they probably won’t reflect much of the devastation in the labor market. As for the dollar, the picture still looks positive amid the market [..]

US PMIs: What’s the damage? – Forex News Preview

Posted on March 30, 2020 at 1:16 pm GMT

It’s a busy data week in America, as besides the nonfarm payrolls report, there’s also the latest ISM manufacturing and non-manufacturing PMIs coming up on Wednesday and Friday respectively, both at 14:00 GMT. These surveys will give us a taste of how much damage the virus has inflicted on the US economy and therefore, of how deep the upcoming recession will be. As far as economic data go these days, these are extremely important, and a serious disappointment could derail [..]

Week Ahead – China and US PMIs eyed for virus impact; NFP report poses threat to relief rally

Posted on March 27, 2020 at 1:33 pm GMT

The global crisis from the coronavirus pandemic has produced much turmoil in financial markets even though economic data on the impact has so far been scarce. That is about to change as March figures start rolling in. Given the extent of the market fallout, investors may already be expecting the worst. That’s not to say, however, that once the data lay bare the true scale of the economic damage, investors won’t be unnerved. The main releases next week that could [..]

Most important US jobless claims ever? – Forex News Preview

Posted on March 24, 2020 at 2:48 pm GMT

In the United States, all eyes will be on the weekly jobless claims, which will be released at 12:30 GMT on Thursday. This will reveal how much damage the virus outbreak has already inflicted on the US economy, and investors are terrified that the number of Americans filing for unemployment benefits is about to skyrocket as consumption collapses and businesses lay people off. A huge surge in jobless claims could cement fears of a recession and therefore spell more trouble [..]

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UK PMIs to fall only moderately but concerns mount over outlook – Forex News Preview

Posted on March 23, 2020 at 4:35 pm GMT

The preliminary PMI report for March is due to be released in the United Kingdom on Tuesday at 09:30 GMT and February numbers for inflation and retail sales will follow on Wednesday and Thursday, respectively, at the same time. With data for February now considered inconsequential given the unfolding situation with the coronavirus crisis, all the attention will be on the March business surveys as they will be the first indicators to shed some light on the extent of the [..]

Eurozone PMIs expected to plummet, but ECB likely done for now – Forex News Preview

Posted on March 23, 2020 at 7:15 am GMT

Economic data has become sidelined during the virus crisis as the market’s attention has focused on policymakers’ response to the fast-spreading pandemic. However, as we now start receiving data for March – when the outbreak escalated outside of China – investors are likely to start taking more notice of the incoming releases. The flash PMI reports will be the first big numbers for March in the euro area, due on Tuesday at 09:00 GMT. Flash PMIs to reveal virus damage [..]

Week Ahead – Emperor dollar reigns supreme amid market apocalypse

Posted on March 20, 2020 at 1:45 pm GMT

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention to economic data, though the US initial jobless claims might be an exception. The big winner from all the chaos is the greenback, which has [..]

Aussie in trouble ahead of jobs data; is RBA about to launch QE? – Forex News Preview

Posted on March 18, 2020 at 12:35 pm GMT

Australia will publish employment data on Thursday at 00:30 GMT but with markets gripped by panic over the coronavirus, the focal point for investors is whether the Reserve Bank of Australia will join the quantitative easing (QE) club. The central bank is expected to hold an emergency meeting on Thursday (03:30 GMT) and is certain to cut rates. In the meantime, speculation on what it will do has pushed the local dollar to depths not seen since 2003. Australian economy [..]

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