Economic data out of the US once again disappointed and showed that the global economy is a lot weaker than expected, the US is no exception to the slowdown. This has boosted demand for safe haven assets such as gold and silver. Plenty of uncertainties remain embedded in the global system which is anticipated to provide a solid floor under silver. Can bulls capitalize and push price action back towards the 20 level? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Yesterday’s trading session was full...
After the Asian trading session produced several key PMI reports which disappointed without exception, forex traders will focus on PMI data out of the Eurozone where the risk of further disappointment has increased. The EURUSD has rallied over the past few trading sessions, but will the rally continue if this morning’s data comes in weaker than expected as it did in Australia and Japan? The ECB meeting will also be closely followed, what impact will it have on the EURUSD? Today’s fundamental analysis will take a look at price action in both...
Australian PMI data disappointed across the board, especially the Services PMI which plunged drastically. This dealt a fresh blow to the global economy which continues to perform worse than expected. While the US-China trade war is often cited as the cause for this, data suggests more fundamental weakness is the root cause. The AUDJPY remained stuck at resistance, how will price action develop from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Japanese PMI data followed in the footsteps of...
The New Zealand Trade Balance featured a surprise as exports increased more than expected, but this may be an anomaly as it represents one rare data point which came in stronger than expected. This follows the upside surprise in Chinese economic data for September and is most likely associated with it. The NZDUSD remained steady at support, will bulls attempt to push price action higher? Today’s fundamental analysis will take a look at price action in both directions. The economic calendar is extremely thin today which will allow forex...
As the Brexit clock winds down, forex traders will continue to be careful. While this week should see a Parliament vote on PM Johnson’s Brexit deal, there is no certainty it will take place and what will follow. Plenty of opposition remains to the Brexit bill, and the number crunching by the Tories is in full swing. Economic data today is likely to take a back seat to commentary surrounding Brexit. How will this impact the GBPCAD? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Canadian elections...