The British Pound slumped yesterday after reports surfaced that PM Johnson seeks to pass a bill which will make an extension of the transition period illegal. UK employment data came in better-than-expected yesterday, but the GBPJPY corrected into its next horizontal support area. How will today’s inflation data impact price action? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Japanese exports and imports posted a steep contraction in November, reminding markets that the global economic...
Australian consumer confidence decreased slightly, but home loans and investment lending increased. The Australian Dollar came under pressure after the release of RBA minutes, putting an interest rate cut on the table for February. The AUDUSD corrected into the top range of a support area, what impact will US data have on 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. Yesterday’s US PMI data showed an increase in the services sector,...
Forex traders await UK labor market data this morning. GDP and PMI data released over the past few trading sessions showed a weaker-than-expected economy, but the British Pound soared together with PM Johnson’s electoral victory. Will today’s economic data keep the rally in the GBPNZD alive or are bears waking up? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Fourth-quarter consumer confidence in New Zealand rebounded and the ANZ Activity Outlook outlook expanded in December. This...
UK house prices contracted in December, extending the weak trend across the sector. GDP data disappointed last week, but PM Johnson’s strong election victory is expected to place the economy on the growth track in 2020. The UK Manufacturing PMI slid farther into contractionary territory, followed by the Services and Composite PMI’s, but the GBPUSD remained strong. Will it maintain its uptrend after the release of US data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Forex traders...
Forex trader eagerly await a fresh batch of PMI data out of the Eurozone. Economists expect a minor improvement for December, amid solid demand from the holiday shopping season. The EURAUD advanced this morning into the lower band of its horizontal resistance area, but how will price action react after the release of PMI data? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair. Australian PMI data showed that the contraction accelerated in December, but Chinese...