The New Zealand business manufacturing sector dropped below 50.0, indicating a contraction in the sector. With this morning’s attention on Chinese data, the NZDUSD was able to advance and is now trading above its horizontal support area. Industrial production out of China surprised to the upside for a second consecutive month, fixed asset investment was solid, and retail sales held up. Can US data add to the rally in this currency pair, or will it force a reversal? Today’s fundamental analysis will take a look at price action in...
Inflationary pressures in the Eurozone remain tame, as evident over the past two days with CPI readings out of Spain, France, and Germany. The ECB is failing its mandate of price stability, and more opposition to its quantitative easing and negative interest rates amasses. Economic data remains overall weak across the Eurozone, but the EURJPY advanced to the upper band of a strong horizontal resistance area. Will bulls attempt a breakout, or can bears force a breakdown? Subscribe to the PaxForex Daily Fundamental Analysis and grow your...
Australian home loans came in better-than-expected in November, but still below October’s reading. Investment lending rose at a healthy clip, adding to bullish momentum in the Australian Dollar. As markets digest the US-China trade deal, which is already showing signs of weakness, the AUDUSD maintained its bullish chart pattern. What impact will US economic data have on price action today? Today’s fundamental analysis will take a look at price action in both directions. Forex traders will look forward to today’s initial...
Forex traders will get a broad range of inflation data out of the UK today. Some Bank of England MPC members turned more dovish as the economy struggled in the last two months of 2019. The Brexit transition period and pending trade discussions with the EU are clouding the outlook. The GBPCAD descended into a major horizontal support area, but how will this morning’s inflation data impact price action? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade. The Canadian Dollar and the British Pound...
Inflation data out of France and Spain are predicted to show the absence of annualized inflationary pressures. The ECB has restarted its quantitative easing program in November, with no impact on inflation. Forex traders will also look forward to the 2019 GDP figure for Germany, which is expected to show an anemic growth rate of just 0.6% annualized. The EURUSD enjoys a strong bullish trend, how will price action be impacted following the release of today’s economic data? Today’s fundamental analysis will take a look at price...
