Forex traders will get key economic data out of the US in thin trading ahead of the New Year’s break, with many traders on extended holidays. The Chicago PMI is expected to confirm an ongoing contraction, supported by the Dallas Fed Manufacturing Activity Index. Economists do expect a rebound in pending home sales. The USDCHF is in a holding pattern inside of its horizontal support area. How will price action be impacted following the release of economic data? Today’s fundamental analysis will take a look at price action in both...
Most forex traders have closed the books for 2019 and the low volume trading environment allows for existing trends to extend. Spanish retail sales for November came in better than economists expected. The EURJPY ascended to the upper band of its horizontal resistance area, but where will this currency pair go from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Japanese labor market tightened with the jobless rate unexpectedly contracting to 2.2%. Clouding the positive report was...
With many forex traders extended their holidays throughout the Christmas period into the New Year, trading activity remains muted with lackluster volume. Economic reports over the next few trading session are expected to stir up volatility. Singapore reminded traders today that the global economic slowdown continues at an accelerated pace with a severe contraction in industrial production. The SGDJPY remained inside its horizontal resistance area, but where will price action be headed next? Today’s fundamental analysis will take a...
Many countries remain closed for the Christmas holidays and trading volumes are extremely thin. The US will publish one regional economic report, following yesterday’s disappointing durable goods orders. The USDMXN moved to the lower band of its horizontal support area, what impact will today’s sole US economic report have on price action? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair. The Mexican Economic Activity IGAE will give forex traders the...
Gold prices have moved higher together with equity markets. This suggests that traders remain concerned about economic developments. Positive comments out of the US and China regarding the phase-one trade deal confirm that it was rushed through as a political tool. A growing number of economists agree that the deal has limited positive impacts on the global economy. Will the advance in Gold carry into the new year? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Japanese All Industry Activity...