AUD/USD Forecast Dec. 29, 2011, Fundamental Analysis

The AUD/USD advanced slightly early Wednesday due to the thin trading in the FX market, on the other hand the absence of fundamentals kept trading calm.

The U.S. dollar was little changed against most of its major counterparts, as the holiday’s season in the United States reduced market participants and the liquidity in the financial market.

On the other hand, the latest U.S. data support the hope that the U.S. economy is gaining momentum, while the ongoing EU debt crisis remains an obstacle in the way of the optimism in the financial market.

On Thursday at 13:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance dropped to 364 thousand last week.

The U.S. economy will issue the Chicago Purchasing Manager for December at 14:45 GMT, where the prior reading was 62.6 and it’s expected to come at 60.2.

At 15:00 GMT, Pending Home Sales for November will be and expected with 1.8% rise after 10.4%.