The US added more Chinese firms to its blacklist which has dampened hopes for an end to the trade war with China. High level talks will be held in Washington this week, but following the US moves the mood has soured. Forex traders will also wait for the release of minutes from the last Fed meeting where the central bank cut interest rates by 25 basis points. Are more interest rates cuts in the pipeline and how will this impact the USDMXN? Today’s fundamental analysis will explore price action in both directions. The Mexican economy is heavily...
Australian data showed general weakness in its economic data and the Chinese service sector performed worse than economists predicted. Despite economic weakness, this Australian Dollar advanced as forex traders focus on this week’s meeting between the US and China, where chances for a trade deal are essentially zero with high hopes for a surprise. How will this impact the AUDUSD? Subscribe to the PaxForex Daily Fundamental Analysis where you can grow your balance trade-by-trade. The NFIB Small Business Optimism Index as well as the IBD/TIPP...
Turkey’s lira hit its weakest in a month on Tuesday, as investors worried about Ankara’s planned incursion in northern Syria and President Donald Trump warned he could destroy the Turkish economy if it takes the operation too far.
Forex traders will get a minor economic distraction from the election circus in Canada today with the release of housing starts and building permits. Economists expected a further slowdown in the housing market, as seasonality is starting to filter through the data. In the meantime, Canadian voters will sort through last night’s TV debate in order to assess how PM Trudeau performed following his “brownface scandal”. How will this influence the CADJPY? Today’s fundamental analysis will take a look at price action in bot directions. Economic...
Following Friday’s “goldilocks” NFP report, markets rallied to close a wild first week of the fourth-quarter. Risk remains elevated with the Brexit clock ticking down, trade talks between the US and China set to continue this week and with earnings season set to get going. Gold prices are well supported after the psychological $1,500 mark, will bulls extend the rally and keep pushing this precious metal to the upside? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. On Saturday talks between the US...