Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
USD awaits the last important indicator of this year
The USA will publish Chicago PMI on December 30, at 16:45 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
Chicago is a big business center in the USA, therefore the data from there tend to reflect the country's overall economic trend. Just like a regular PMI, this one represents a survey of around 200 purchasing managers, which asks them to rate the level of business conditions. If the indicator is above 50, the situation is improving. On the other hand, the indicator below 50 signals worsening business conditions. As there are not so many events in the economic calendar these days, the release may result in volatility of the US dollar.
- If the indicator is higher than the forecasts, the USD will go up.
- If the indicator is lower than the forecasts, the USD will slump.
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.