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Aussie almost unchanged in a tighter range morning trading

Wednesday, Dec 24 2014
This morning CB Leading Index figures for Australia were released showing third consecutive month of decline, this month by 0.2%. Building approvals and the sales to inventories ratio made the largest negative contributions this month. Between April and October 2014, the leading economic index declined 1.0%, a reversal from its increase of 1.4% over the previous six months. Additionally, the weaknesses among the leading indicators have become more widespread than the strengths in the recent months. 
 
Aussie remains on the downside, with RBA opting for Aussie around 0.75 level, meaning there is still a lot of room for a downtrend. On the other side, recent US data indicates stability and constant raise in labour market, while GDP for the third quarter showed 5% growth, much above forecasted incline. This also points out that Fed could be raising interest rates soon, perhaps even in the first quarter of 2015. 
 
It is a steadier morning session for Aussie which is being traded within 20 points as with Christmas Eve and holiday season beginning liquidity at the market down sizes to great extent. Pair is likely to find support around 0.8080 level and resistance above 0.8140 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
 
More in this category: « New Home Sales at an annual rate of 438,000 Euro slightly up in a quite holiday season trade »

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