AUD/USD buyers could defend SMA crossover

The advance in AUD/USD prompted its 100-hr SMA to cross above the slower 200-hr SMA.

The low prices printed on hourly charts are at a converging distance to the “Golden Cross”. This price level is likely to underpin the AUD/USD rate as buyers find support at the confluence. The risk scenario is set once a close beyond the 200 SMA is printed.

Dec 24, 2015

Growing risk of further oil price declines into 2016 – Goldman Sachs

Research Team at Goldman Sachs, notes that OPEC oil ministers failed to reach an agreement to restrict oil supply at the December 4 meeting, driving WTI oil prices to multi year lows.

US: It’s either inflation or volatility – SocGen

Research Team at Societe Generale, suggests that with a continuous improvement in the US labour market, it is clearly mild inflation which prevented an earlier liftoff.