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SNB: Staying dovish, preventing franc strength – Forex News Preview

Posted on March 19, 2019 at 3:18 pm GMT

The Swiss National Bank (SNB) is expected to keep its policy rates unchanged at the lowest level globally when it announces its decision on Thursday, at 0830 GMT. Domestic data are lackluster, Switzerland’s main export markets are slowing, and most importantly, the ECB turned dovish lately. Combined, these imply the SNB will probably retain an ultra-dovish tone. While such signals would argue for a slow grind lower in the franc, any risk-off global incident could trigger episodes of sudden appreciation [..]

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Fed to clarify how patient it could get with rate hikes – Forex News Preview

Posted on March 19, 2019 at 12:44 pm GMT

The Federal Open Market Committee (FOMC) has two main things to clarify at the end of its two-day policy meeting on Wednesday at 1800 GMT. First is the course of rate hikes that the central bank hinted it will pause until later this year. Then is the size of the balance sheet and particularly policymakers’ willingness to continue winding down asset holdings at a time when risks to the global economy are skewed to the downside. New economic projections released on the same day could reflect the [..]

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BoE decision, potential Brexit vote, and key UK data to drive sterling – Forex News Preview

Posted on March 18, 2019 at 3:26 pm GMT

It will be an action-packed week for the British pound. The UK Parliament could vote on PM May’s deal for a third time, the Bank of England (BoE) will announce its decision on Thursday, while key economic data will be released throughout the week. As always, politics will probably dominate economics in driving sterling. While the ultimate destination for the currency may be higher from here, the absence of any clarity over what happens next in Brexit suggests that a [..]

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Week ahead – Fed, BoE, and SNB policy meetings highlight a packed agenda

Posted on March 15, 2019 at 1:19 pm GMT

Traders will be glued to their screens next week amid a barrage of crucial events, ranging from a highly-anticipated Fed policy meeting to even more Brexit votes in the British Parliament. At the same time, almost every major economy will see the release of data that could be decisive for their respective currencies, particularly considering the synchronized shift by central banks towards a more ‘cautious’ stance lately. Fed decides: All eyes on the new ‘dots’ Arguably the main event in [..]

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Chinese industrial output and retail sales to move markets in Asian session – Forex News Preview

Posted on March 13, 2019 at 4:00 pm GMT

After a small improvement in December, China’s retail sales and industrial production figures are forecast to arrive softer on Thursday at 0200 GMT. Investors would probably read the data with caution as the Lunar New Year holidays may have disrupted business activities during that period. Still, the months-long US-Sino trade war will more likely receive some blames as well, thanks to its negative impact on the country’s economic health. Separately, fixed investments in urban areas are projected to tick higher. According to forecasts, industrial [..]

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BoJ meeting: No action, but perhaps a more dovish tune – Forex News Preview

Posted on March 13, 2019 at 3:00 pm GMT

The Bank of Japan (BoJ) will announce its decision during the early Asian session on Friday. No action is expected, so investors will once again look for any signals on how policy may evolve. The slowdown in global growth coupled with lackluster domestic data suggest little room for optimism, and if anything, the BoJ could instead join the chorus of dovish central banks globally and hint at more stimulus – not least for fear of yen appreciation if it doesn’t. [..]

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US durable goods orders due, as dollar rally eases – Forex News Preview

Posted on March 12, 2019 at 2:11 pm GMT

The next focal point for the dollar will be the release of durable goods orders for January, on Wednesday at 12:30 GMT. Forecasts point to a relatively soft set of data, which may further amplify concerns around a looming US slowdown, and by extent cause the greenback to give back more of its recent gains. In the bigger picture, the US currency will likely take its cue from the signals the Fed sends at its policy meeting next week. New [..]

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Week Ahead – Another Brexit deadline looms; Bank of Japan meets

Posted on March 8, 2019 at 1:30 pm GMT

A vote in the British parliament could determine whether the Brexit deadline will be extended, while a Bank of Japan policy meeting will be another highlight for traders in the coming week. Economic indicators will also be watched closely amid renewed growth jitters as industrial output figures for January are reported in China, the Eurozone, the United Kingdom and the United States. Inflation numbers from the US will be the other main release. Chinese growth likely softened further at start [..]

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Canada to show no employment growth in December – Forex News Preview

Posted on March 6, 2019 at 3:45 pm GMT

Weighed by political jitters and disappointing GDP growth prints earlier this month, the Canadian dollar turns its sights to employment figures for direction. The results, however, published on Friday at 1230 GMT may extend economic uncertainty instead. After January’s impressive 66.8k rebound, analysts believe that the Canadian economy added no jobs in February, leaving the unemployment rate unchanged at 5.8% and slightly above the 44-year low of 5.6% first reached in December. These data follow a row of discouraging stats that [..]

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US nonfarm payrolls coming up as dollar approaches key resistance levels – Forex News Preview

Posted on March 6, 2019 at 2:55 pm GMT

The all-important US employment report for February will hit the markets on Friday at 13:30 GMT. Forecasts point to yet another solid report and if so, that could make investors more confident the Fed will raise rates again later in 2019, thereby helping the dollar to extend its latest gains. That being said, the reserve currency is now very close to levels it has consistently failed to overcome in recent months, so buyers should tread lightly. The labor market remains [..]

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