The Hong Kong manufacturing surprised to the upside, but remains deep in contractionary territory as protests weigh on all sectors of the economy. On the bright side, Australian retail sales managed to rebound from the previous month’s contraction. Silver was able to drift further to the upside as the global economy is slowing down faster than expected and recession fears are on the rise. How much more upside can bulls force and will Silver hit the key psychological 20.000 mark? Today’s fundamental analysis will explore price action in both...
All eyes will be on today’s US ISM Non-Manufacturing Index after the ISM Manufacturing Index showed the worst reading in ten years. The US Dollar has maintained its bullish stance against the Japanese Yen, how much longer will this trend last? Forex traders will also get factory orders which are expected to show a contraction, how will this impact the USDJPY which currently tests support? Today’s fundamental analysis will take a look at the downside potential and the upside risk in this currency pair. Final Japanese PMI data confirmed the...
This Friday, market participants will focus on labor statistics from the United States. Employment in the non-agricultural sector (NonFarm Payrolls), Average Hourly Earnings, as well as the Unemployment Rate will determine the future direction of the US currency.
Forex traders will eagerly await a fresh round of PMI data out of the Eurozone which is expected to move the Euro. Final readings on Services and Composite PMI data for September will be released and while economists predict no change from the previous reading, it may follow final Manufacturing PMI data into revisions. The EURGBP was able to advance after reaching support, will this trend continue or will economic data force a reversal? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair....
The latest series of economic data out of Switzerland disappointed and showed an economic slowdown which exceeded expectations. The Swiss National Bank is expected to keep interest rates at record lows for a longer time period and today’s CPI data is anticipated to show the absence on inflationary pressures. Yesterday’s Manufacturing PMI slide further into contractionary conditions which will hit the Swiss export sector. The CHFJPY started to correct, will this trend last? Today’s fundamental analysis will explore price action in both...