Forex traders will continue to follow Brexit developments after the UK Parliament delayed a vote on Saturday which forced PM Johnson to ask the EU for a delay. He sent a delay request, but didn’t sign it. This was followed by a signed letter stating he doesn’t want a delay. On the economic front, monthly Rightmove House Prices came in much stronger then expected. How will the confusion impact price action in the GBPJPY today? Today’s fundamental analysis will take a look at price action in both directions. The latest confirmation that the...
Gold has corrected below the psychological $1,500 level, but found support as geopolitical tension remain high and the global economy accelerates its slowdown. Chinese GDP data came in below expectations, but September saw a pick-up in industrial production as well as retail sales. Japan showed that inflation remains absent in a country no strange to deflationary pressures. How will gold trade heading into the weekend? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this precious metal. Turkey...
The dollar is trading without clear dynamics on Thursday amid growing doubts about the US-China trade deal, while the pound fell in price on pending news about the Brexit terms agreement.
Forex traders will pay very close attention to the EU summit over the next two days as new hurdles emerged in regards to a Brexit deal. The British Pound surged to five-month highs amid optimism that a deal will be reached, but time is running out and divisions remain. After the UK labor market showed job losses earlier this week, forex traders will get retail sales data this morning. How will this influence the GBPUSD? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. US industrial and manufacturing...
Today is the start of the key, two day EU summit where the UK and EU will try to agree on a Brexit deal. The Euro has recovered from its lows, but economic data continues to disappoint. Today’s Eurozone construction output is expected to show a monthly contraction. The EURAUD rallied as the Australian Dollar came under pressure after markets grew increasingly disappointed over the partial trade deal announced between the US and China. How will today’s information flow impact price action? Today’s fundamental analysis will take a look at price...