Japanese inflation data came in as expected and confirmed the absence of inflationary pressures. Department store sales slumped, but convenience store sales expanded. The USDJPY reversed from its highs while it remains inside its horizontal resistance area. Forex traders now await a batch of US economic data. Will it initiate a sell-off in this currency pair or can it renew a bullish push? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair. US personal income and...
German consumer confidence eased and French consumer spending disappointed. Forex traders now look forward to Italian business and consumer confidence data, but the EURGBP has reached the upper level of its horizontal resistance area. Will weak Eurozone economic data force a price action reversal, or will UK data extend that advance in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. UK data has been soft, but the Lloyds Business Barometer continued to improve. The Bank of...
The New Zealand GDP came in better than expected for the third quarter, but the second-quarter GDP was revised lower. An increase in exports was countered by a rise in imports and resulted in a widening of the trade deficit. The NZDUSD remained inside its horizontal resistance area as forex traders now await US data. Will it allow bulls to force a breakout or will bears pressure for a breakdown? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair. Forex traders...
Forex traders will get UK retail sales for December prior tot he Bank of England interest rate decision. Economists expect no change at today’s meeting, but with Brexit moving ahead in roughly six weeks, the press conference will receive additional attention. The GBPAUD moved away from its post-election peak, how will the Bank of England impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Australian economy added more jobs than expected in November...
Forex traders are looking forward to IFO data out of Germany, economists predict a small increase in all three categories. The Eurozone’s largest economy has been a drag on the trading bloc, and data continues to disappoint. The EURCAD remains in a holding pattern inside its horizontal resistance area, which direction will today’s data move this currency pair? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair. CPI data out of Canada is expected to show...