After the Australian and Japanese PMI reports disappointed, forex traders will focus on this morning’s wave of Eurozone PMI’s. Economists predict an overall weakening across the board in another sign that the global economy is sliding into a recession. The ECB is exploring new stimulus, but did Germany hint it may be open for its own fiscal stimulus package after its economy contracted in the second-quarter? How will this impact the EURUSD which is trading at key support? Today’s fundamental analysis will explore the upside potential as well as evaluate the downside risk for the most liquid currency pair in the forex market.

Rounding up today’s PMI heavy trading day will be data out of the US. Economists anticipate a slowdown in the key services sector, but did the manufacturing sector manage to expand? The US Dollar has remained strong as forex traders used it as a safe haven trade which further added to Trump’s criticism of the US Fed. How much longer can the US currency attract inflows as the central bank is expected to cut interest rates further? Is now the time to look at buying opportunities in the EURUSD? Follow the PaxForex Daily Fundamental Analysis and allow our expert analysts to guide you to over 5,000 pips in monthly profits.