Today the focus is on 3M’s plans to cut staff, a drop in US unemployment claims, and Deutsche Bank’s bold outlook.
The report on the change in the number of employees in the United States’ nonfarm sector for November will be published. Forecast: 469 thousand. If the real data is lower, the USD will receive a negative impulse.
Assets to trade: EUR/USD, USD/CAD
UOB predicts a 3% decline in Australia’s GDP next year. Affects AUD
The 3M company announced plans to cut its staff. Affects MMM
American politicians have made progress in negotiating $900 billion in economic stimulus. Affects USD
Deutsche Bank predicts a 12% fall in the price of gold. Affects Gold
The number of applications for unemployment benefits in the US is at a three week low. Affects USD
Deutsche Bank has changed its strategy concerning gold. In addition, the bank’s analysts expect the asset price to fall immediately by 12% over the coming months.
Technical analysis of an asset allows for the short-term growth of the asset. However, if the asset breaks the downside support level, Deutsche Bank’s forecast may come true.
The chart of the currency pair has formed a head and shoulders pattern and has already broken through the support level. A decrease in the asset’s price is possible.
The asset has consolidated above the base of the “Triple Bottom” pattern, which indicates the start of a bullish trend.
CHF/JPY on this day in history
- Since 2000, December 4th has been a trading day 14 times.
- On 57% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.13%.
- The downward trend was limited to 0.75%.