Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

German factory orders unexpectedly plunged and confirmed that the global economy extends its weakness. Forex traders anticipate the final reading on third-quarter GDP out of the Eurozone, together with retail sales. Economists anticipate a contraction in retail sales ahead of the holiday shopping season. How will the EURCAD react following the release of more Eurozone economic data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

German retail sales for October disappointed with a strong contraction and French consumer spending came in lower than expected with a sharp downward revision to the previous month. Employment figures out of Germany and Italy, as well as CPI data out of the Eurozone, are expected next. The EURCAD maintained its bullish trend, but how will it be impacted by more economic data? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will get plenty of PMI data out of the Eurozone today which could move the Euro. The economy has slowed down a lot more than economists predicted and the release of this morning’s factory orders out of Germany is anticipated to deliver the latest piece of evidence that the Eurozone is likely to cool further. What impact will today’s PMI data have on the EURCAD? Today’s fundamental analysis will take a look at price action in both directions.

Final German and Spanish CPI data confirmed the previous reading and showed the lack of inflation in the Eurozone. Infighting inside the ECB in regards to Draghi’s restart of QY continues, the ECB is set to resume bond purchases on November 1st. The EURCAD remained stuck at resistance, how will the final day of US-China trade negotiations impact price action? Today’s fundamental analysis will cover both sides of price action.

All eyes are on the ECB today where President Draghi is expected to announce a massive stimulus plan in its next round of quantitative easing. A cut in Deposit Facility Rate to -0.50% is expected together with more bond buying. The latest Eurozone industrial production figures disappointed and showed a steeper contraction than expected. Inflation remains absent which may give the ECB reasons to worry down the road. With a dovish ECB priced in, can bulls power ahead in the EURCAD following the press conference?

Eurozone CPI for June will be released this morning, but expectations call for a tame reading which may further entice the European Central Bank to stimulate the economy further. Eurozone construction output is anticipated to show weakness as Italian new industrial orders and sales are on track to paint a disappointing picture. The EURCAD is trading at a strong support level, will today’s data result in a breakdown? This morning’s fundamental analysis will highlight the risks to the downside as well as the chances for an upside surprise.

The global economic slowdown extends as German industrial production slumped in April. This has caused the German trade surplus to sink as exports plunged and imports decreased. Today’s fundamental analysis will take a look at how the Euro may be impacted throughout today’s trading session as forex traders await the key US NFP report for May. Canada is also scheduled to release its employment report. Will the EURCAD extend its corrective phase throughout today’s trading session? Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here is the key factor to keep in mind today for Euro trades: German Factory Orders: German Factory Orders for January decreased by 2.6% monthly and by 3.9% annualized. Economists predicted an increase of 0.5% monthly and a decrease of 3.1% annualized. Forex traders can compare this to German Factory Orders for December which decreased by 1.6% monthly and by 7.0% annualized. Here are the key factors to keep in mind today for Canadian Dollar trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here is the key factor to keep in mind today for Euro trades: German PPI: The German PPI for February is expected to decrease by 0.1% monthly and by 2.6% annualzied. Forex traders can compare this to the German PPI for January which decreased by 0.7% monthly and by 2.4% annualized. Here are the key factors to keep in mind today for Canadian Dollar trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades:

Here are the key factors to keep in mind today for Euro trades: