NZD weakness likely as RBNZ cuts

Dec 06, 2015 22:45 pm UTC| Commentary

The RBNZ (Thursday) is narrowly expected to cut rates next week for the fourth time this year, lowering the cash rate by 25bp to 2.5%. This would fully reverse last years rate hikes. A cut is expected given a weaker...

Swiss National Bank to keep policy unchanged

Dec 06, 2015 22:31 pm UTC| Commentary

No change is expected in policy at the SNBs policy meeting (Thursday) following last weeks ECB meeting. The SNB would remove the exemption from negative deposit rates for domestic banks sight deposits, its "nuclear"...

US retail sales to post a modest number in November

Dec 06, 2015 22:13 pm UTC| Commentary

Retail sales in the United States are likely to post a modest +0.1% m/m number in November. Vehicle sales slipped modestly according to Wards (-0.4% m/m), and the retail gasoline price fell by 5.4% m/m on average. These...

No BoE surprises, unchanged and still highlighting some uncertainty

Dec 06, 2015 21:59 pm UTC| Commentary

GBPUSD saw a rebound last week following a disappointing ECB press conference after trading below the psychological 1.50 level. The below-consensus expectations for IP this week (-0.4% m/m, Tuesday) is likely to cap the...

Canada's housing starts to come in at around 200k for November

Dec 06, 2015 21:50 pm UTC| Commentary

Housing starts in Canada are expected to come in at around 200k for November, in line with recent prints. Coincident indicators for Canadian housing construction continue to point to a decent pace of gains: building...

Japan to have actually avoided a technical recession

Dec 06, 2015 21:32 pm UTC| Commentary

In a relatively quiet week between the ECB and the FOMC, Japans secondary release of Q3 GDP (Tuesday) and October machinery orders (Wednesday) will be the focal data for the JPY. Firstly, the Q3 GDP is expected to be...

EURUSD range-bound post disappointing ECB

Dec 06, 2015 21:17 pm UTC| Commentary

The ECBs policy decision last week fell well short of market expectations. Arguably, the most important disappointment came from the absence of strong forward guidance with regard to further potential cuts to the depo...