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The GBP/USD post modest gains rise over 0.20% on Monday as investors grow confidence that the Federal Reserve might cut rates in the next week meeting, and traders prized in a possible nomination of the White House Economic Adviser Kevin Hassett to succeed Powell at the Fed.

The AUDUSD is trading down and up and back down in trading today.

Within the confined trading range, the pair is finding support and resistance at swing areas that will give traders the clues for price action going forward.

• The lower swing area comes in between 0.65368 to 0.6540.
• The upper swing area comes between 0.65617 to 0.65641.

With the defined areas, traders will be using them as the roadmap for the day and going forward. If the price were to break and stay above 0.6564, the bias would shift to more positive and have traders looking toward the November high at 0.6580 as the next key target. Get above that in hopes the door for Ron toward the October highs near 0.6615.

Conversely a break below 0.65368 would put into play the key 100 day moving average at 0.65318 followed by the rising 100 hour moving averages 0.6521..

This article was written by Greg Michalowski at investinglive.com.

US ISM Manufacturing PMI fell to 48.2 in November from 48.7, missing expectations for 49.0 and marking the ninth straight month of contraction. New orders dropped sharply to 47.4 from 49.4. Employment deteriorated further from 46.0 to 44.0. Production was one of the few bright spots, rising from 48.2 to 51.4 and suggesting that output […]

The post US ISM manufacturing slips to 48.2, ninth straight month of contraction appeared first on ActionForex.

Canada’s November Labour Force Survey will be pivotal for judging whether recent job gains reflect genuine labour-market improvement or mere statistical noise.

The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI edging lower to 48.2 in November, down from 48.7 in October and short of analysts’ expectations of 48.6.

United States ISM Manufacturing PMI below forecasts (48.6) in November: Actual (48.2)

United States ISM Manufacturing Prices Paid below expectations (59.5) in November: Actual (58.5)

• Prior month 48.7
• ISM Manufacturing PMI index xx.x vs. 49.0 expected
• Prices Paid xx.x vs 57.0 estimate. Prior month 58.0
• Employment index xx.x vs 46.0 last month.
• New orders xx.x vs 49.4 last month
• Production xx.x vs 48.2 last month
• Supplier deliveries xx.x vs 54.2 last month.
• Inventories xx.x vs 45.8 last month.
• Customer inventories xx.x vs 43.9 last month.
• Backlog of orders xx.x vs 47.9 last month
• New Export orders xx.x vs 44.5 last month
• Imports xx.x vs 45.4 last month

This article was written by Greg Michalowski at investinglive.com.