AUD/USD Breakdown to Turn or Burn on Aussie Employment, US CPI

Talking Points

• AUDUSD at support- broader focus is lower heading into key AU, US data
• Updated targets & invalidation levels
• Looking for trade ideas? Review DailyFX’s 2016 4Q Projections

Recovery in Australia Employment to Encourage AUD/USD Rebound

Why Is This Event Important:
Signs of stronger job growth may encourage the Reserve Bank of Australia (RBA) to carry the current policy into 2017 as ‘members observed that some indicators of domestic inflation cost pressures, such as growth in the wage price index, had stabilised, albeit at low levels, and that underlying inflation was expected to return to more normal levels over time.’ In turn, Governor Philip Lowe and Co. may largely endorse a wait-and-see approach in the year ahead, but another dismal employment report may put pressure on the

Crude Oil Price Forecast: Crude Bounces on Hope OPEC Salvages Deal

The rise in the DXY post-election has presented a specific headwind for Crude Oil. However, the correlation has broken down significantly as volatility has increased through November. However, it stands to reason that further USD strength would continue to put downside pressure on the price of Crude Oil as we saw in H2 2014 when Crude began its descent from $112/bbl as the USD started its initial meteoric rise after a similar stalling pattern from 2012 through H1 2014.
On Tuesday, the Financial Times reported that Saudi energy minister Al-Falih had a message for President-Elect Trump that the U.S., “benefits more than anybody else from global free trade,” and that, “energy is the lifeblood of the global economy.” We’re still in the pre-inauguration period for President-elect Trump, but many will look new information about Trump’s intended Trade deals as well as informal talks being held in Doha on November 17-18 to see if Monday-Tuesday’s rally will follow through.

EUR/GBP Eyeing Support Targets Ahead of UK Jobless Claims

Talking Points

• EURGBP Focus is lower ahead of UK employment data
• Updated targets & invalidation levels
• Looking for trade ideas? Review DailyFX’s 2016 4Q Projections

EUR/GBP Daily

WTI/USD – US Crude Sliding on Oversupply Concerns, $40 Next?

US crude prices haven’t skipped a beat on Monday, as the commodity continues to lose ground. In North American trade, WTI/USD futures are trading at $42.36. Brent crude futures are trading at $43.58, as the Brent premium stands at $1.22. On the release front, it’s a quiet start to the week, with no US events on the schedule. On Tuesday, the US will release key retail sales numbers.

Oil prices continue to slide, as US crude has fallen close to the $42 line,

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