The RBA kept interest rates unchanged, in a move that was widely expected by markets. Fears over the coronavirus are factoring into the short-term outlook by various central banks. Despite numerous warnings from health officials that the global system is not prepared for an epidemic, traders have pushed aside those concerns. Silver was pressured into a strong horizontal support area, where is price action headed from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Forex traders were...
The Australian manufacturing sector steepened its recession, but annualized inflation increased unexpectedly. Building approvals rose on an annualized level, but contracted monthly, followed by a smaller increase in house prices. The AUDCHF collapsed into a significant horizontal support area. Will bears push this currency pair into new multi-decade lows, or will bulls step in and reverse price action? Today’s fundamental analysis will take a look at price action in both directions. Forex traders will get the Swiss manufacturing PMI...
With Brexit concluded at midnight, forex traders are anxiously awaiting the start of trade negotiations. The Bank of England provided a boost to the British Pound, and economic data continues to surprise to the upside. After the GBPUSD completed a breakout above its horizontal support area, will bulls be able to continue the advance? Are bears waiting at the next candlestick? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Forex traders will finish the trading week with key US income and spending...
Eurozone confidence data for January was released this morning and showed an improvement in most categories. The Euro failed to rally as the Eurozone Business Climate Indicator disappointed. German CPI data is predicted to show a spike in deflationary pressures monthly. The EURGBP remains inside of its horizontal resistance area, how will the MPC meeting out of the UK impact price action? Today’s fundamental analysis will take a look at price action in both directions. Bank of England Governor Carney will host his last MPC meeting...
Australian consumer confidence weakened, but the Westpac Leading Index increased. Inflationary pressures as measured by the CPI remained tame in the fourth quarter and below the RBA’s annualized target of 2.0% annualized. The AUDUSD lost selling pressure after it moved into its horizontal support area, but how will price action be impacted by US economic data today? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. Forex traders eagerly anticipate the press conference following this evening...
