The Australian Dollar came under mild selling pressure after a report showed that private sector credit eased. Adding to bearish momentum was an unexpected acceleration in the rate of contraction in the Chinese manufacturing sector. The services sector also slowed down which added to growth concerns. How will the AUDJPY trade as more global economic data will trickle in throughout the session? Today’s fundamental analysis will take a look at price action in both directions. The Bank of Japan left its interest rate unchanged at -0.10% as...
With today’s FOMC meeting out of the US in focus, Eurozone confidence and inflation data will dominate the European trading session. Economists predict subdued inflationary figures and a further slowdown in confidence across the Eurozone in all sectors. Should predictions be confirmed, how will price action in the EURJPY react? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Retail sales out of Japan surged in September and beat economists expectations for a good performance. Analysts are now trying...
Inflation data out of Australia for the third-quarter eased further, but the AUDUSD kept its bullish momentum is now trading at a strong resistance level. Today’s US interest rate decision is expected to have a big impact on the US Dollar and forex traders are anticipated to wait for the press conference following the expected interest rate cut before committing to new US Dollar positions. How will price action react after the press conference? Today’s fundamental analysis will take a look at price action in both directions. Forex traders...
UK PM Johnson’s push for a December 12th 2019 election was defeated in Parliament and forex traders will now have to wait what will follow after the EU granted a Brexit extension until January 31st 2020. The GBPUSD retreated from its multi-month high as uncertainty surrounding Brexit rose. How will today’s economic data impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Yesterday’s economic data out of the US came in a lot weaker than expected and once again...
Chinese industrial profits contracted for a second consecutive month, but traders grew more confident that a permanent resolution to the US-China trade war can be found. Solid third-quarter earnings season has further boosted optimism that companies have performed well despite the uncertainties. Gold managed to advance as risks remain, a range of economic data out of the US has indicated the slowdown is accelerating. How will this precious metal perform to start the fresh week? Today’s fundamental analysis will take a look at price action in...