With US markets at all-time highs, forex traders will start the new trading week with a light economic calendar. Trade concerns have eased slightly, but remain far from being resolved. This morning’s Singapore trade data showed an unexpected monthly contraction in non-oil exports which served as a reminder that global trade remains weak. Gold has ended its strong sell-off as bulls rushed back into this precious metal. How will price action develop during today’s session? Subscribe to the PaxForex Daily Fundamental Analysis and grow your...
Forex traders will await US retail sales data which disappointed last month to gauge if consumer spending has picked up once again. Industrial production and manufacturing production is expected to show its second monthly contraction while the Import/Export Price Index is anticipated to show the rise in deflationary pressures. How will this data impact price action in the USDCAD? Today’s fundamental analysis will take a look at price action in both directions. Canadian housing data may have an impact on the Canadian Dollar which has weakened...
Final Italian and Eurozone CPI data will be released, but economists expected the previous October data to be confirmed which will show the absence of inflationary pressures. The ECB has failed on its mandate of price stability under President Draghi and new President Lagarde is expected to follow his approach. The Eurozone trade balance will also be released, will the EURJPY extend its sell-off or can it recover to the upside? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The final reading on...
PPI data out of the US is expected to show the absence of inflationary pressures on the producer level while initial jobless claims are anticipated to remain near record lows. The focus has shifted from the Fed to the phase one trade deal between the US and China which appears incomplete. Some analysts expect it to be signed in December, but details remain scarce and conflicting. How will the USDJPY be impacted following the release of today’s data? Today’s fundamental analysis will take a look at price action in both directions. Third-...
Doubts as to whether the United States and China could reach a preliminary trade deal on Thursday pushed up safe-haven currencies such as the yen and the Swiss franc and put pressure on the yuan.