Forex Previews

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Pound could shrug off key data as Brexit vote tops agenda – Forex News Preview

Posted on December 7, 2018 at 2:01 pm GMT

Next week should be a busy one for the British pound as a crucial vote in Parliament will likely open a new era for the Brexit story and  May’s future as a leader. Key data releases such as GDP growth and employment readings are scheduled for delivery as well, but investors will probably be too obsessed with the Brexit story to react to the numbers. While Theresa May is pushing hard to persuade lawmakers that the deal agreed with the EU is the best possible outcome reached after [..]

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Week Ahead – Pound to take centre stage as Brexit vote looms; ECB meets amid worsening Eurozone outlook

Posted on December 7, 2018 at 1:59 pm GMT

The pound looks set for even choppier times as British MPs will next week get to vote on Theresa May’s much criticized Brexit deal, while there will also be a flurry of UK data for traders to keep up with. The euro will also be in focus as the European Central Bank is due to hold a scheduled policy meeting. The Swiss National Bank will be another central bank deciding on rates next week. In the US, inflation and retail [..]

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Aussie eyes China’s trade and inflation data – Forex News Preview

Posted on December 7, 2018 at 1:33 pm GMT

Over the weekend, China will release its trade and inflation data for November. Forecasts point to a slowdown in both exports and imports, as well as in inflationary pressures. Such figures could amplify speculation that trade-related uncertainty is starting to weigh on the world’s second largest economy and potentially hurt the yuan, as well as the aussie, which is considered a liquid proxy for “China plays”. China’s exports are anticipated to have grown by 10.0% on a yearly basis in [..]

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NFP jobs report expected to be solid but Fed may need something stronger – Forex News Preview

Posted on December 6, 2018 at 1:42 pm GMT

The last time US nonfarm payrolls were released, investors turned more positive that the Fed would raise interest rates at least twice next year as wages recorded their largest increase in 9 ½ -years and employment growth bounced back. This time, the jobs report comes on the heels of a less hawkish Fed, and the data are not expected to be more delightful. Hence, investors will be closely scrutinizing the numbers as policymakers seem to be resuming their data-dependent approach. On Friday at 1330 GMT, the US [..]

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Canadian jobs numbers up next as loonie awaits OPEC outcome – Forex News Preview

Posted on December 6, 2018 at 12:51 pm GMT

Canada’s latest employment figures will hit the markets on Friday, at 1330 GMT. Forecasts and gauges of the labor market point to another solid report, which may help the loonie recover some of its latest losses. In the bigger picture though, the direction of oil prices following the OPEC decision later today may prove even more important for the Canadian currency. The loonie recorded hefty losses this week, diving to a 1½-year low versus the dollar, after the Bank of [..]

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Oil rebounds ahead of OPEC meeting amid hopes for production cuts – Forex News Preview

Posted on December 5, 2018 at 11:17 am GMT

The Organization of Petroleum Exporting Countries (OPEC) and its allies will meet in Vienna on Thursday, and expectations for a production cut to stabilize oil prices are riding high. With investors appearing confident such a reduction will indeed take place, the impact on oil prices may depend mainly on the size of any cut. If producers fail to deliver entirely though, crude prices could well visit fresh lows for the year. OPEC and its allies, most notably Russia, are reportedly [..]

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UK services PMI to get eclipsed by Brexit again as Parliament begins debate – Forex News Preview

Posted on December 4, 2018 at 4:27 pm GMT

After both the manufacturing and construction PMIs beat expectations in November, the services PMI, due out of the UK on Wednesday at 09:30 GMT, will be eyed to complete the hat-trick. However, even if the more dominant services PMI does not disappoint and points to stronger economic activity in November, traders are unlikely to cut their bearish bets on sterling as the Brexit drama shows no sign of ending anytime soon. Brexit uncertainty and political turmoil in the UK dragged [..]

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Loonie turns its gaze to BoC decision and OPEC meeting – Forex News Preview

Posted on December 4, 2018 at 10:18 am GMT

The Bank of Canada (BoC) will announce its rate decision on Wednesday at 1500 GMT, and expectations are for policymakers to take no action. The loonie will probably be driven by any signals regarding the likelihood of a rate hike at the next meeting, in January. Beyond monetary policy, the outcome of the OPEC gathering on Thursday may also prove crucial for the currency, via its impact on oil prices. The BoC is widely anticipated to keep interest rates unchanged [..]

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RBA interest rate decision and Australian GDP growth next on agenda– Forex News Preview

Posted on December 3, 2018 at 4:19 pm GMT

In all likelihood, the Reserve Bank of Australia will keep interest rates at record lows once again on Tuesday at 0330 GMT as the Bank is still monitoring slow progress in household income. A day later, GDP growth figures for the third quarter will come into light (0030 GMT) but analysts do not see expansion picking up speed, justifying somewhat the RBA’s cautious stance. The RBA chief, Philip Lowe, believes that higher interest rates require higher wage growth for consumers to afford increased costs [..]

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ISM Manufacturing PMI to tick up in November – Forex News Preview

Posted on November 30, 2018 at 2:40 pm GMT

The ISM manufacturing index, a closely watched indicator for US factory activity and thus a growth barometer will come into the light on Monday at 1500 GMT. The figure is expected to show that manufacturers regained some lost ground in November, retaining the streak of overall robust growth for months now. An upbeat report could reflect that the US is expanding at a healthy pace in the final quarter despite trade frictions and a slowing global economy. According to forecasts, the ISM manufacturing PMI has risen a little bit in November [..]

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