The US and China confirmed that trade talks will resume in October, but will they actually yield positive results? Neither side has show willingness to cave to demands of the other and in the meantime the global economy continues to slow down. German factory order released this morning showed a much steeper contraction than economists expected. This partially negated the positive mood following yesterday’s upside surprise in Services and Composite PMI data out of the Eurozone. The EURUSD paused it bounce from yesterday and remains just below a minor resistance level. Are bulls able to force a breakout or will bears pressure for more downside? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this trade.

Forex traders will get a range of US economic data and all eyes will be on the key ISM Non-Manufacturing Index. On Tuesday the ISM Manufacturing Index posted it first reading below 50, indicating contraction in the manufacturing sector, in over three years. What should forex traders expect from the service sector? The ADP report will give the first look into private sector job creation ahead of tomorrow’s NFP report for August and factory orders will also be in focus. How will this impact the EURUSD? Today’s fundamental analysis will take a look into price action covering both sides of the trade.