Forex traders will start the new trading week with a light economic calendar which showed New Zealand consumers reigned in their credit card spending for July which posted an unexpected contraction. The the Brazilian IBC-Br Economic Activity Index, expected to show a further slowdown in Latin America’s largest economy, and the US Monthly Budget Statement for July which is anticipated to show another large deficit, are the only economic releases which are likely to get any attention. Will this allow the rally in Silver, a safe haven asset, to...
After a wild trading week which featured plenty of market moving economic reports as well as geopolitical developments, forex traders will get a light Friday afternoon session. The PPI report out of the US will be more closely watched than usual as the US Fed is expected to lower interest rates again in September. The lack of inflation as well as inflationary pressures could further boost sentiment for an interest rate cut. How will the US Dollar react? The USDCAD has entered a corrective phase, an it extend further to the downside? Subscribe...
The Japanese yen is trading near an eight-month high versus the dollar on Friday as renewed concerns about the U.S.-China trade dispute and signs that central banks are more worried about the global economy boosted safe-haven assets.
As Japan is waging its own trade dispute with South Korea, the second-quarter GDP surprised to the upside on the back of a surge in business spending. The Japanese consumer, in its usual fashion, lagged behind. Despite the upside surprise, forex traders kept the GBPJPY hovering at a string support level. The Bank of Japan vowed to defend excessive Japanese Yen strength and the British Pound started to show signs of downside exhaustion. Is this currency pair on the verge of a short-covering rally? Today’s fundamental analysis will take a look...
Financial markets remain under a high degree of volatility with forex traders zoomed in on the People Bank of China and where it sets the Yuan rate, which for the first time was placed above the key 7.00 mark. While US president Trump is using Twitter to express his anger and claim victory is near, China reported a surprise increase in exports which saw its trade surplus swell further. The USDJPY came under more selling pressure, will bears force a breakdown below support or will bulls hold their ground? Follow the PaxForex Daily Fundamental...
