Australian consumer confidence rebounded slightly as the holiday shopping season started and the RBA kept interest rates unchanged in a move widely expected by markets. The AUDCHF extended its advance an is now testing the strength of its horizontal resistance level. Do bulls have enough momentum to force a breakout or will bears reject this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Switzerland experienced another month of deflationary pressures as evident in this morning...
Forex traders started December with a heavy dose of Eurozone manufacturing data that surprised to the upside but remained in the contractionary territory except for France. The testimony of new ECB President Lagarde in front of the European Parliament will also be followed and the EURUSD is expected to face an increase in volatility as the trading day progresses. What impact will this have on price action? Today’s fundamental analysis will take a look at price action in both directions. The ISM Manufacturing PMI out of the US for...
The Australian manufacturing sector slumped into a recession as confirmed by two PMI reports released during the Asian trading session. Building approvals plunged and company profits for the third quarter decreased. The AUDJPY pushed higher, but global trade uncertainty continues to be elevated. How much farther can bulls push this currency pair higher before bears step in? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Japanese company profits for the third quarter dropped, but forex traders...
German retail sales for October disappointed with a strong contraction and French consumer spending came in lower than expected with a sharp downward revision to the previous month. Employment figures out of Germany and Italy, as well as CPI data out of the Eurozone, are expected next. The EURCAD maintained its bullish trend, but how will it be impacted by more economic data? Today’s fundamental analysis will take a look at price action in both directions. Forex traders will finish the trading week with GDP data out of Canada. Economists...
UK GfK Consumer Confidence remained unchanged at -14, but the Lloyds Business Barometer rose. Forex traders will now await housing and consumer credit data due to be released during the European morning trading session. The GBPJPY has rallied strongly as the UK election is approaching. Will bulls force a breakout and continue to advance or will bears pressure for a breakdown? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Japanese industrial production contracted more than expected in the latest...