EURAUD Analysis
EURAUD has broken the lower high (Top) of the descending channel in the 4-hour timeframe chart.
After the confirmation of Upward movement EURAUD buy signal given.
EURAUD reached the take profit target successfully.
EURO: German Factory Orders rose above expected numbers
German Factory Orders rose to 3.7% MoM in November and a yearly basis 1.3% rise in November.
German Factory orders rose numbers shows Eurozone manufacturing activity improvements and inflation going to increase as more consumption from the public.
Contracts for Goods made in Germany jumped to 3.7% on the month vs 2.1% expected and -5.8% last month.
Germany factory orders made less impact on EURUSD last day, Despite US FOMC meeting minutes dragging the gains of Euro against US Dollar.
Australian Dollar: China Services PMI came at higher than expected
For December, China’s Caixin Composite PMI came at 53.0 versus 51.2 expected, and Services PMI came at 53.1 versus 52.1 expected.
But Australian Markit Services PMI came at 55.1, lower than 55.7 previous reading.
And Omicron variant waves spread fast in Australia but Vaccinated people were affected in meagre numbers.
That increased social distancing and tightening restrictions will be rolled back if the Omicron variant proves to be less deadly than the Delta variant.
Last Day FOMC meeting minutes make Risk aversion in Global markets, and US Dollar makes stronger than counterparties.
China’s Premier speech
China’s Premier Li Keqiang said further cuts on taxes and fees on businesses would support the Economy recovery in this pandemic time.
And Total of 8.6 trillion yuan ($1.35 trillion) taxes and fees have been cut since 2016.
Hefty scale tax and fee cut policies are the keys to macroeconomic control.
So, this type of policy only makes more Economy consumption; businesses run in pandemic times and Sales
Don’t trade at your free time, instead trade the markets only when there are confirmed trade setups.
Get confirmed trade setups here: https://signal.forexgdp.com/buy/
