The Australian Dollar started the new trading week with a rise in volatility as forex traders received two reports on the the Australian services sector which were mixed with an increase in the final Composite PMI reading for July. US President Trump is increasing his trade war with China, but the final Chinese July Manufacturing PMI was revised higher. With the US Dollar coming under pressure as Chinese data shows signs of bottoming out, will the AUDUSD reverse on the back of short-covering? Today’s fundamental analysis will take a look at...
This week was heavy on economic data across the globe and forex traders will get to finish on a high note with the release of the NFP report out of the US. Economists predict a slowdown in hiring, but still an overall solid report. US President Trump announced that he will impose 10% tariffs on $300 billion worth of Chinese imports starting September 1st, which means that the US would essentially tariff all imports. Will forex traders dump the USDCHF as they seek more safe havens? Today’s fundamental analysis will take a look at the downside...
Following an economic data heavy week, forex traders will get Eurozone retail sales to close out their week. The EURAUD has spiked into strong resistance levels, but bullish momentum is fading as economic data has deteriorated further. How resilient is the Eurozone consumer? US President Trump has announced another round of tariffs on Chinese imports yesterday, how will this impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis where you can grow your balance trade-by-trade! Here are the key factors...
This Friday, traders will again focus on the release of labor statistics from the United States. NonFarm Payrolls, Average Hourly Earnings, and Unemployment Rate will determine the future behavior of the US currency. NonFarm Payrolls Last data: 224K Consensus forecast: 165K The current week has been eventful. In the first half of the week, the next round of trade negotiations between the USA and China started in Beijing, the very fact of which has already supported the American dollar. On Wednesday, the results of the two-day Fed meeting...
The Bank of England is expected to hold interest rates at current levels and keep stimulus intact. With Brexit less than 100 days away, it is unlikely that the British central bank will move. The British Pound has sold off heavily across the board as PM Boris Johnson is preparing the country for a no deal Brexit. Did forex traders price this even in already and is the risk now to the upside? The GBPAUD started to stabilize and recover, will price action extend further to the upside? Today’s fundamental analysis will explore the options in both...
