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 action in both directions.

The Australian economy added almost 15K jobs in September and the unemployment rate decreased to 5.2%. Forex traders remain anxious to get more details about the partial US-China trade deal which US President Trump hails as a great success without confirmation from the Chinese side. The EURAUD started to retreat from resistance, will bears force more downside or can bulls recover? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.