Forex traders will get a heavy dose of Eurozone economic data to close out the trading week. Confidence data will be front and center, economists expect little change from the previous month. The German Import Price Index showed deflationary pressures in the Eurozone’s biggest economy which will be monitored closely by the ECB. The EURJPY entered a severe sell-off over the past few sessions, how will today’s data flow impact price action? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this...
Forex traders will focus on developments out of the UK as Parliament turned hostile and opposition parties split on how to proceed next. The British Pound has been under pressure, but the GBPUSD stabilized at support after the Trump impeachment inquiry. The US political issues are bigger than that of the UK, will this rally the GBPUSD off of support levels? The sole UK economic data point today showed an improvement in consumer confidence which remains in negative conditions. Will US data provide the next catalyst for this currency pair?...
The final reading for second-quarter GDP out of the US is expected to confirm the previously reported data. The Fed’s preferred inflation gauge, the core PCE is predicted to remain at 1.7% annualized and below the 2.0% inflation target. With the slowing economy, inflation remains absent despite a tight labor market. Forex traders will also look forward to more housing data following yesterday’s upside surprise.The USDSGD just moved above resistance, will today’s economic data result in more upside or will price action correct to the downside....
The US currency recovered losses associated with the beginning of the investigation as part of the impeachment proceedings against the US President Donald Trump, while rising tensions in world trade put pressure on the Chinese yuan and the Australian dollar.
The Reserve Bank of New Zealand kept interest rates on hold at 1.00% as was widely expected by market participants. The New Zealand Dollar was able to extend its rally after the central bank announcement. The trade deficit for August came in bigger than expected on the back of higher imports while exports clocked in slightly higher than expected. Is more upside in the NZDUSD possible? Subscribe to the PaxForex Daily Fundamental Analysis and follow the advice of our expert analysts which will yield you over 5,000 pips per month in profits. The...