Forex traders are awaiting key US durable goods orders, and economists predict a recovery in December following November’s contraction. Housing data and consumer confidence are likely to move the US Dollar, while a regional manufacturing index may add volatility. The USDCHF is trapped in a bearish chart formation, but how will today’s economic data impact price action? Today’s fundamental analysis will take a look at price action in both directions. Swiss trade data showed an unexpected plunge in exports, confirming the...
The new trading week kicks-off with the German IFO report. Economists predict a small improvement across all three sub-categories. Gold has moved higher as fears over the new coronavirus pushed traders into safe-haven assets. The fragile economy cannot afford disruptions caused by this new virus, but China already banned tours through affected provinces. How will this previous metal react to today’s economic data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. New home sales out of the US,...
Forex traders will finish the trading week with a heavy dose of PMI data out of the Eurozone. Economists predict a mild uptick, with manufacturing in Germany and the Eurozone as a whole, predicted to remain in a recession. The EURUSD corrected from its 2020 high into its horizontal support area, but what impact will today’s PMI data have on this currency pair? Today’s fundamental analysis will take a look at price action in both directions. The final market-moving report for this week will come out of the US, which will release...
Forex traders will get initial jobless claims data today, which has been ticking higher. The Leading Index for December is expected to show a contraction, while a regional manufacturing report is expected to the recession in the sector is ongoing. How will the USDJPY react following the release of economic data after completing a breakdown? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Japanese trade balance posted a smaller-than-expected deficit as the slump in exports was offset by a drop...
The ECB is expected to keep interest rates and its bond-buying program unchanged. Divisions between the voting members a growing in the divided central bank, a development which should be followed closely. The EURAUD is in a holding pattern inside of its horizontal support area. Will today’s ECB press conference allow this currency pair to attempt a breakout, or will a breakdown follow? Today’s fundamental analysis will take a look at price action in both directions. The Australian employment report for December came in better-...
