All eyes will be on the ECB press conference which will follow 45 minutes after the announcement on interest rates where no change is anticipated. Will the ECB open the door for more fiscal stimulus and potentially negative interest rates in response to the bigger-than-expected slowdown in the Eurozone? The Euro is expected to come under a spike in volatility during the press conference. Prior to that, the release of German IFO data, expected to weaken further, will keep forex traders busy. Is now the time to buy the EURUSD? Today’s...
Prime Minister Boris Johnson started his new position yesterday after winning the election with a 2-1 majority. As he assembles his pro-Brexit cabinet, the British Pound was able to stabilize at strong support levels and at extreme oversold conditions. The GBPJPY ascended slowly and is now approaching the upper band of its horizontal support area. Will bullish momentum be strong enough for a breakout? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair! Here is the key factor to keep in mind...
New Zealand reported a better than expected trade surplus for June, but it came on the back of a slump in imports as exports decreased sharply. This is the freshest sign that global trade is contracting. The NZDUSD stabilized after a minor correction over the past three trading sessions. Does this represent a good buying opportunity or will the downtrend extend? Today’s fundamental analysis will take a look at price action in both directions and highlight the best trading set-up for a profitable outcome. Here is the key factor to keep in mind...
Forex traders will get a heavy dose of PMI data out of the Eurozone which is likely to dictate trading in the Euro for the trading day. Economists predict a minor slowdown in July across the board with the German Manufacturing PMI in focus. The tariff threat by US President Trump on the Eurozone auto sector still looms, but bullish momentum in the EURAUD is building as this currency pair is ripe for a short-covering rally. How will this morning’s data impact price action? Follow the PaxForex Daily Fundamental Analysis where you can grow your...
On Tuesday, the British pound has been falling for the third day in a row, discouraged by a stronger dollar and fears that the new prime minister, whose name will become known later, will withdraw Britain from the European Union without a trade deal with the bloc. The result of the Conservative Party election will be announced just after 10.00 GMT, with Brexiteer Boris Johnson widely expected to have beaten foreign minister Jeremy Hunt. The winner will become prime minister on Wednesday. Johnson has declared that the Oct. 31 Brexit...
