With the UK election just two days away, forex traders will receive a heavy dose of economic data out of the UK. GDP data, industrial and manufacturing data, and the index of services data are eagerly awaited. The GBPAUD has extended its rally, but how will price action react to this morning’s economic releases? Today’s fundamental analysis will take a look at price action in both directions. Australian consumer confidence rose for the week ending December 8th as holiday shopping season kicked into full gear. NAB Business...
German exports surprised to the upside, but this covered October where companies were gearing up for the holiday shopping season. More recent data suggests that exports may have slumped in November. The Euro didn’t react to this data point as forex traders are concerned with current developments and the future outlook. The EURMXN has paused its sell-off, but how will price action react to today’s Mexican inflation data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Growth worries in Mexico persist...
New Zealand manufacturing volume posted another quarterly contraction and Chinese exports for November posted an unexpected contraction, bigger than the one reported in October. This confirmed that the global economy maintains its slowdown, and the advance in the NZDJPY is vulnerable to a breakdown. How will price action be impacted with the December 15th,2019 tariff deadline approaching? Today’s fundamental analysis will take a look at price action in both directions. A strong upward revision to the final third-quarter Japanese GDP failed to...
Forex trader eagerly await today’s NFP report out of the US. October’s data was soft, and earlier this week, the ADP private-sector employment report disappointed. Economic data out of the US has been soft all week, and the USDCAD entered a sell-off. Consumer confidence data will also be released, and consumer credit data will be anticipated as the holiday shopping season is underway. What impact will this have on price action? Follow the PaxForex Daily Forex Technical Analysis and grow your balance trade-by-trade. The Canadian employment...
Forex traders will finish this week, filled with economic data pointing towards a slowing Eurozone economy, with more disappointment expected out of Germany. Industrial production is anticipated to post another annualized contraction and pressure the Euro. The French trade balance and Italian retail sales will be released later in the session. How will this data impact price action in the EURJPY, currently hovering at resistance? Today’s fundamental analysis will take a look at price action in both directions. Japanese labor cash earnings...