Economists anticipate that the German economy contracted in the second-quarter, on a quarterly as well as annualized basis. What impact will this have on the Eurozone GDP report which will be released today as well? Eurozone industrial production is also expected to post a sharp contraction. The EURUSD rallied off of its support area, can the rally extend as the negative data is already priced in with several economists calling for a German recession in the third-quarter? Subscribe to the PaxForex Daily Fundamental Analysis and allow our...
Australia reported a surprise rebound in consumer confidence for August as second-quarter wage inflation rose slightly above expectations. The Australian Dollar was unable to capitalize on the better-than-expected data as China reported weaker industrial production and retail sales data. With yesterday’s stronger-than-expected UK employment data, the GBPAUD remains well support at current levels, will a breakout follow or will US President Trump’s announcement of a delay in certain tariffs force a breakdown? Today’s fundamental analysis will...
With Brexit inching closer every day and a no-deal Brexit becoming more likely, the British Pound has sold-off severely. Price action in the GBPUSD is now approaching a key support area with the lower band being the intra-day low of the post Brexit referendum results sell-off. Today’s UK employment data is expected to show solid employment gains as well as rising wages. Will this boost the British Pound off of strong support levels and allow for a short-covering rally in the GBPUSD? Follow the PaxForex Daily Fundamental Analysis and earn more...
As the protests in Hong Kong escalate and China assembled the People’s Armed Policy on the outskirts of Shenzhen, bordering Hong Kong, forex traders continued to flock to safe haven currencies such as the Japanese Yen. Japanese economic data released during the Asian trading session showed further signs of deflationary pressures and a struggling domestic economy. With the Bank of Japan alerting the markets that it won’t allow the Japanese Yen to strengthen much further, is now the time to but the EURJPY? This morning’s...
The dollar continues to defend itself against the safe-haven yen in Monday's foreign exchange trading, as the trade dispute between China and the United States seems to have dragged on. Since no settlement is yet to be expected, the Japanese currency is confidently taking advantage, even though the holidays in Japan and Singapore have led to not very active trading.
