The AUD/USD pair is trying to record more gains, as the Aussie was able to record its highest level in two weeks against the greenback on Wednesday, as
AUD/USD Forecast Dec. 23, 2011, Fundamental AnalysisThe AUD/USD pair is trying to record more gains, as the Aussie was able to record its highest level in two weeks against the greenback on Wednesday, as confidence is returning to the market on eased stress to the end of the year.
The U.S. dollar lost momentum before the year end, where profit taking pushed the majors higher against the dollar and the yen.
On the other hand, expectations support the downside trend for the pair over the short term as the European debt crisis is still the focus despite the current optimism in the market.
On Friday at 13:30 GMT, the U.S. economy will release the Durable Goods Orders for November with a previous reading of –0.7% and it’s expected to come at 2.1%.
The Personal Income for November is expected to slow to 0.3% from 0.4%, while the Personal Spending is expected to come at 0.4% from the previous 0.1%.
The core Personal Consumption Expenditure for November is expected in line with the previous rise of 0.1% on the month and 1.7% on the year.
At 15:00 GMT, the U.S. economy will issue the New Home Sales for November, where it’s expected to rise 1.8% to 313 thousand from 307 thousand.
