This Friday, traders will focus on labor statistics from the USA. Employment in the non-agricultural sector (NonFarm Payrolls), Average Hourly Earnings, as well as the Unemployment Rate will determine the future direction of the US dollar.
German factory orders unexpectedly plunged and confirmed that the global economy extends its weakness. Forex traders anticipate the final reading on third-quarter GDP out of the Eurozone, together with retail sales. Economists anticipate a contraction in retail sales ahead of the holiday shopping season. How will the EURCAD react following the release of more Eurozone economic data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Forex traders will get Canadian trade data as well as the key Ivey PMI...
US economic data this week showed the world’s largest economy is in worse shape than most economists have predicted. Manufacturing and services sector data both clocked in worse than anticipated, ADP data showed a slump in private-sector hiring. The USDJPY started to reverse direction but remains well supported at current levels. How will price action react to today’s economic data out of the US? Today’s fundamental analysis will take a look at price action in both directions. The Japanese Yen started to attract more...
After the Eurozone Manufacturing PMI showed that the recession in the sector has expanded, forex traders will get the services and composite PMI reports out of Italy, France, and Germany as well as for the Eurozone as a whole. The EURGBP is grinding at support, but how will price action react following the release of PMI data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. UK services and composite PMI data will be released today, but forex traders are likely to focus on developments regarding the...
The Australian service sector extended its slowdown and is moving closer to the 50.0 level. Third-quarter GDP data showed disappointing consumption data and capital expenditures contracted. Chinese data surprised once again to the upside, but Hong Kong showed a weaker figure than expected. The AUDUSD reversed into support, but how will price action be impacted by US data later in the trading session? Today’s fundamental analysis will take a look at price action in both directions. Forex traders are eagerly awaiting the release of the US ISM...