AUDUSD looking to bounce back
China’s GDP forecasts could prove vital to the direction of the Aussie as we see out the remaining few weeks of the year. Projections for higher growth could heighten demand for the currency and lead to a blossoming Australian economy. With the AUDUSD pair bouncing back after a prolonged bearish rally, this would be a welcome relief, as 0.6600 is the next target higher, with 0.6440 a critical support level.
XAUUSD all eyes on inflation
Gold appears poised to break out of its current consolidation, as the recent dollar rally has left prices subdued. The yellow metal remains bullish in the near term as attention turns to this week’s inflation data, which is expected to creep higher. With global tensions still simmering, Gold is not done yet with another possible bullish rally, as 4100 becomes the next target to the upside, with the recent low of 3940 serving as critical support.
NAS 100 awaits more earnings
Stocks are expected to bounce back from the current dip as indices aim to push higher. Investors were also keeping a keen eye on President Trump’s tariffs, while the federal shutdown became the longest in US history. However, with earnings season underway, most tech companies are expected to exceed expectations, which could lead to the Nasdaq having another push toward record highs. This could send the tech index above 26,000 with 24,800 as fresh support.
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