Forex traders will get a heavy load of PMI data out of the Eurozone to finish the trading week. Economists predict a slight increase for June across the board, but German PMI data will be front and center as it represents the growth and export engine of the Eurozone and the EU. Will this mornings data push the Euro to the upside or will it come in below expectations and ignite a sell-off? Forex trading for beginners comes with a steep learning curve, but thanks to the PaxForex Daily Fundamental Analysis you can rely on our expert analysts to...
As the Fed paved the way for monetary easing, how will the US Dollar be traded between now and July’s FOMC meeting? Bond yields plunged and global equities rallied. Regional US economic reports have showed an economy slowing much faster than expected which will make them even more important moving forward. Forex traders will also pay close attention to today’s US Leading Indicators Index which is anticipated to ease further. FX trading volume has picked up on bearish US Dollar trades which is likely to accelerate as portfolios will be adjusted...
After the US Fed kept interest rates unchanged yesterday, in a move which was widely expected, it did sound a more dovish tone and opened the way for an interest rate cut as soon as its next meeting. Today it will be the Bank of England’s turn as economists expect no change in monetary policy while the leadership race for a new PM is narrowing down. The British central bank is turning slightly more hawkish and sentiment towards a potential interest rate increase rose yesterday as inflation picked up. The British Pound rallied off of strong...
The US currency holds around a two-week high on Wednesday on the eve of an important release following a two-day Fed meeting at the end of the day, which is the focus of today's traders. The dollar is also supported by the dovish sentiment of the European regulator and the eurozone bearish economic data. The dollar index remained stable versus a basket of six major currencies at 97.653 after rising on Tuesday to 97.766, its highest level since June 3. Investors' attention is focused on whether the dollar will be able to maintain its strength...
All eyes will be on today’s FOMC statement by the US Fed which will be released in the US evening trading session. Expectations call for no change to its interest rate, but for a softening of the language which is meant to prepare markets for an interest rate cut in July and potentially one more before the end of the year. US President Trump has long criticized the US central bank for increasing interest rates which he believes have harmed the economy. Stock broker recommendations have highlighted potential US Dollar weakness ahead as the...
