Forex traders will get a heavy dose of economic data out of the US on the last trading day of the week, the month, the second-quarter and the first-half of 2019. With the G-20 Summit in Osaka in full swing, there is plenty of noise, hope and expectations circulating across forex trading desks. Today’s US personal income and spending data as well as the Chicago PMI will likely move price action in the US Dollar, especially if the data comes in weaker than expected. The US Fed stated that interest rate adjustments will become data dependent and...
The G-20 Summit in Osaka has begun and market participants await news from the outcome of working sessions. More important than official meetings are the bilateral sidelines meetings which could have an impact on markets when Asia kicks off the new trading week on Monday. The leadership for the next British Prime Minister is also on minds of forex traders, with Boris Johnson holding on to a narrow lead. The GBPJPY has started a sideways trend at strong support levels, will price action attempt a breakout on the back of a short-covering rally...
As the G-20 summit is approaching and US President Trump and Chinese President Xi are scheduled to meet on the sidelines in order to discuss a potential end to the trade war, the US Dollar has rallied. Hopes are riding high, but forex traders will get a heavy dose of US economic data to digest before then. A final reading on first-quarter GDP will likely dictate price action. How will the USDJPY react to any surprise? Pending home sales as well as another regional manufacturing report are also anticipated to add volume and volatility to US...
Forex traders continue to adjust to the dovishness out of the ECB which may extend its quantitative easing program unless economic data improves. The Eurozone economy is cooling off fast and inflation remains absent, but the immediate attention will be on this weekend’s G-20 meeting where hopes for an end to the US-China trade war are on the rise. On the economic front, this morning’s Eurozone confidence data will be in focus and economists anticipate a further slowdown. How will this impact the EURNZD? Will the sell-off accelerate further to...
The price of gold falls on Wednesday morning against the backdrop of the rise in the US currency to its main competitors after the statements by the head of the Federal Reserve System (FRS) regarding the country's economy and further monetary policy of the department. As of Wednesday morning, the price of August gold futures on the New York stock exchange Comex fell by $ 7.65, or by 0.53%, to $ 1,411.05 per troy ounce. The cost of the July silver futures fell by 0.62%, to 15,205 USD per ounce. The current direction of the dollar adds...
