Source: PaxForex Premium Analytics Portal, Technical Insight Australia's economy has entered a recession phase. According to the Australian Bureau of Statistics (ABS), Australia's GDP fell by 0.3% in the first three months of the year, the first time in 29 years. Household consumption fell 1.1% in the quarter, the first decline since December 2008 and the sharpest in 34 years. The economy has grown by only 1.4 per cent in the last 12 months, the weakest figure since September 2009. AUD/NZD, 30 min Pivot: 1.0742...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. Non-Farm Payrolls Report (NFP) coming out this Friday, 05/06/2020, is in the spotlight for Forex traders as last Friday's report broke historic records for job losses. The US Department of Labor reported a 20.5 million non-agricultural jobs loss last month. The recalculation for March was also worse, the actual loss was 870,000 jobs, not 701,000. The unemployment rate in the United States reached 14.7% in April and exceeded the postwar record. The...
Source: PaxForex Premium Analytics Portal, Technical Insight In today's Asian trading, the euro has moved downwards against the US dollar in anticipation of the European Central Bank (ECB) meeting. Many economists believe that ECB chairman Christine Lagarde at a meeting on Thursday will announce the expansion of the Pandemic Emergency Purchase Programme (PEPP) bonds worth 750 billion euros, launched in March. As noted by Bloomberg, analysts expect to increase the volume of the program by € 500 billion. Thus, the volume...
Source: PaxForex Premium Analytics Portal, Technical Insight The NZD/USD is trading at 0.6420 and keeps moving within the growth and upward channel. The pair is traded above the upper boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates that there is a bullish trend for the pair. NZD/USD, 30 min Pivot: 0.6419 Analysis: Provided that the currency pair is traded above 0.6387 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6419 Take Profit 1: 0.6484 Take...
Source: PaxForex Premium Analytics portal, Technical Insight A lawsuit was filed yesterday against Google in a suggested class action in which a company engaged in Internet searches is accused of illegally trespassing the privacy of millions of users by universally tracing the usage of the Internet through "private" browsers. The claim is worth a minimum of $5 billion, incriminating the company of secretly collecting information about what (and where) people search on the Internet, notwithstanding them activating the...
