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Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]

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Canadian inflation figures due as loonie tracks oil prices – Forex News Preview

Posted on January 17, 2019 at 4:20 pm GMT

The latest inflation data out of Canada will hit the markets on Friday, at 1330 GMT. While these figures are always important for market expectations around future Bank of Canada (BoC) rate hikes, the loonie’s overall direction may depend mostly on how oil prices perform going forward, given the resurgent correlation between these two assets. The loonie staged a remarkable rebound to start the new year, clawing back some of the losses it recorded in the final months of 2018, [..]

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China’s Q4 GDP growth to flash red – Forex News Preview

Posted on January 16, 2019 at 1:26 pm GMT

China will report GDP growth figures for the fourth quarter of 2018 early on Monday at 0200 GMT, potentially injecting further volatility to the markets as investors search for more convincing clues on how bad the US-Sino trade war can hurt. Forecasts are for a slightly smaller annual expansion of 6.4% (1.5% q/q), the lowest rate achieved in almost a decade.   In the third quarter, the Chinese economy geared down for the third consecutive time, marking an annual growth [..]

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UK inflation and retail sales data to get eclipsed by Brexit drama – Forex News Preview

Posted on January 15, 2019 at 1:40 pm GMT

Key data releases out of the UK are likely to once again find themselves fighting for attention amid a deepening Brexit turmoil. But although there will be bigger stories than economic indicators dominating the headlines for sterling traders over the next few days, the data could nevertheless provide some clues as to the likelihood of a Bank of England rate hike should the Brexit storm clear up. The CPI report is due on Wednesday at 09:30 GMT, while the retail [..]

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Sterling in focus as UK Parliament prepares to vote on Brexit deal – Forex News Preview

Posted on January 14, 2019 at 4:01 pm GMT

British lawmakers will hold the “meaningful vote” on the government’s Brexit deal on Tuesday evening. The accord is widely expected to be voted down, and although that may hurt sterling initially, the currency’s broader direction will probably depend more on what happens next. Overall, the biggest tail risk for the pound – a no-deal exit – seems to be gradually abating, thereby brightening the prospects for the UK currency. It’s going to be another crucial week for Brexit, setting the [..]

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Week Ahead – Brexit crunch time as MPs to vote on May’s deal; inflation data to dominate

Posted on January 11, 2019 at 12:30 pm GMT

Brexit fatigue looks set to reach a climax next week as UK lawmakers will finally get their say on Theresa May’s deal. But with little chance of the deal passing through Parliament, stormy days lie ahead for sterling. On the data front, inflation will be the dominant theme, while the US housing market will also come under the spotlight, assuming the government shutdown doesn’t cause a delay to the scheduled releases. Chinese trade figures eyed China will publish its latest [..]

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UK GDP, industrial output data to attract less attention as Brexit deal vote looms – Forex News Preview

Posted on January 10, 2019 at 9:57 am GMT

The UK economy will be in focus on Friday as November data on monthly GDP, industrial output and trade are due at 09:30 GMT. But with the crucial Parliamentary vote on Theresa May’s much-criticised Brexit deal coming up just a few days later, the normally closely-watched indicators may fail to generate notable reaction in forex markets. After notching up growth of 0.6% quarter-on-quarter in the September quarter, the British economy is expected to have cooled in the final three months [..]

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ECB minutes next in line as rate differentials keep euro resilient – Forex News Preview

Posted on January 9, 2019 at 3:14 pm GMT

The minutes of the latest ECB meeting, where policymakers officially decided to end QE, are due out on Thursday at 1230 GMT. Investors will look at how officials see the Eurozone’s growth prospects, and whether they are even more worried than President Draghi has let on. Any signs the Bank is growing more cautious may weigh on the euro, though note that the currency has remained resilient in the face of bad news recently, so any downside may be fairly [..]

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FOMC minutes to highlight a busy week for the dollar – Forex News Preview

Posted on January 8, 2019 at 3:56 pm GMT

The US economic calendar is packed with significant events this week, with the latest FOMC minutes hitting the markets on Wednesday, at 1900 GMT. Then on Thursday, a slew of Fed speakers including Chair Powell and Vice Chair Clarida will deliver remarks. Investors will look for clues as to whether a pause in rate hikes is indeed in order, amid growing fears a recession may be in sight. Fed Chairman Powell softened his tone on future rate hikes last week, [..]

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Bank of Canada to put rate hikes aside for now – Forex News Preview

Posted on January 8, 2019 at 3:20 pm GMT

The loonie recovered almost 2.0% of its lost value last week, registering its largest gain against the dollar in four months but the currency is waiting another test this week as the Bank of Canada is scheduled to set monetary policy on Wednesday at 1500 GMT. While interest rates are not expected to change, policymakers may use a more dovish tone amid heightened fears of a slowing global economy. The economic strength stemming from a tightening job market and higher [..]

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