Forex traders will get US housing data as well as a regional manufacturing index which is expected to add volume to US Dollar trades. Regional reports have come in mixed and highlighted cracks in the US economy. The USDJPY advanced off of its lows, but remains stuck in a tight trading range as an interest rate cut by the US Fed looms as the economy is cooling. Can bulls attempt a breakout or will bears force a reversal? Today’s fundamental analysis will take a look at the upside and downside potential of this currency pair. Here are the key...
Forex traders will get a light economic calendar on the first trading day of this week. Given the sell-off at the close of the US equity trading session on Friday and this morning’s risk-off session in Asia, safe haven assets such as the Swiss Franc are expected to outperform. Conflicting messages about a US interest rate cut by FOMC members has added uncertainty about the US Dollar. The USDCHF has been under selling pressure which only increased after this currency pair broke below parity. How long will this downtrend last? Follow the...
The economic data released during the Asian session this morning turned out to be weaker than expected. Major statistical releases included inflation figures for June in Japan. At the same time, the Australian and New Zealand dollars failed to secure stability, as the comments of the New York branch of the Federal Reserve provided support for the yield of US Treasury bonds. In Japan, the annual level of core inflation in June was 0.6%, which corresponds to the predicted 0.6%, whereas in May this indicator dropped from 0.8%. The Japanese yen...
Gold continues to advance after geopolitical tensions provided enough bullish momentum for a breakout. The latest escalations in the Persian Gulf have further attracted investors who seek safe haven assets. Iran escorted a foreign oil tanker back to its shores on allegations that it was smuggling oil and the US military shot down an Iranian drone in response. Tensions between both countries are expected to escalate as the US seeks allies to pressure Iran over its foreign policy. How much more upside potential is in gold? Subscribe to the...
The Australian labor market showed stagnation on the headline figure, but it created full-time jobs while shedding part-time positions. The unemployment rate held steady. In a positive sign for the economy, second-quarter business confidence recovered. This morning’s data kept the AUDUSD hovering at resistance levels, will bulls get sufficient data out of the US in order extend the current advance? Subscribe to the PaxForex Daily Fundamental Analysis and join our fast growing community of profitable forex traders! Here are the key factors to...
