Optimism which drove markets higher on the back of trade hopes is starting to show cracks, but yesterday’s Eurozone PMI data surprised to the upside. Safe-haven assets such as gold and Silver sold-off as capital rotated into riskier assets, but support levels in Silver prevented a bigger sell-off. Australian trade data showed a surprise increase in exports, but this precious metal maintained its bullish bias. How will Silver react after European data will be released? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance...
Forex traders will get plenty of PMI data out of the Eurozone today which could move the Euro. The economy has slowed down a lot more than economists predicted and the release of this morning’s factory orders out of Germany is anticipated to deliver the latest piece of evidence that the Eurozone is likely to cool further. What impact will today’s PMI data have on the EURCAD? Today’s fundamental analysis will take a look at price action in both directions. The Canadian Dollar experienced a rise in volatility after the Bank of Canada kept...
The New Zealand labor market showed a rise in the unemployment rate in the fourth-quarter together with a much smaller-than-expected increase in average hourly earnings. This may impact consumer spending as the global economy gears up for the holiday shopping season this month. The NZDUSD remained in its bullish advance, can bulls push higher or will bears attempt to break the up-trend? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Yesterday saw mixed data on the US service sector which accounts...
The ECB is under a new President, but the same problems are expected to plague the slowing economy which also struggles with the absence of inflation. Today’s PPI data is expected to confirm that the ECB has failed its mandate of price stability and many analysts suggest that the central bank will remain loyal to policies Draghi implemented. Hungary’s central bank labelled the Euro a trap which is doomed to fail, will traders slowly agree with this idea? Will the EURGBP rally off of support or is another breakdown possible? Today’s fundamental...
The RBA kept the key interest rate on Tuesday, leaving the door ajar to further stimulate the economy if necessary.