New Zealand manufacturing volume posted another quarterly contraction and Chinese exports for November posted an unexpected contraction, bigger than the one reported in October. This confirmed that the global economy maintains its slowdown, and the advance in the NZDJPY is vulnerable to a breakdown. How will price action be impacted with the December 15th,2019 tariff deadline approaching? Today’s fundamental analysis will take a look at price action in both directions.

A strong upward revision to the final third-quarter Japanese GDP failed to boost the Japanese Yen as the NZDJPY remained at resistance, awaiting more global data. The Eco Watchers Survey disappointed and kept bullish momentum in check. Will the Japanese Yen see an inflow from safe-haven capital, or will forex traders finish the year with a risk-on mood? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.