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Trading ideas for EUR/USD, AUD/USD and BRENT

December 15, 2021

EUR/USD: The American currency has a mixed performance against the euro. As concerns about the danger of the new Omicron virus recede, the US Federal Reserve’s possible actions in the near future are again coming to the fore. The meeting of the regulator should take place next week, and the market expects from officials decisive steps to further reduce incentives, which strengthens the position of the US dollar. Officials are expected not only to speed up the pace of the cut in the asset purchase program in half, bringing its volume to $30 billion a month but can also begin discussing the date of the start of the interest rate hike, expected next year. We also note that the dollar is supported by reports of the possibility of raising the US government’s national debt limit by $28.9 trillion. The House of Representatives may approve this move this week. Earlier, US Treasury Secretary Janet Yellen urged Congressmen to act more actively, because without raising the national debt limit, the government may not have enough funds to meet its debt obligations by the end of this month. However, now the default and financial crisis could be postponed again.

BUY LIMIT 1.1280/TP 1.1306/SL 1.1269


AUD/USD: The Australian currency is strengthening against the US dollar. Australian investors are looking forward to the results of yesterday’s meeting of the Reserve Bank of Australia. The regulator expectedly left interest rates at the same level of 0.10% and did not adjust the size of the bond purchases. The accompanying statement said the new Omicron variant would not disrupt the rapid recovery of the Australian economy. Bank Governor Philip Lowe said the regulator is committed to maintaining favorable monetary conditions to meet its employment and inflation targets and is willing to be patient along the way. The closest resistance may be the 0.7147 level, where we see a speculative opportunity to open a short trade.

SELL LIMIT 0.7147/TP 0.7115/SL 0.7155


BRENT: Oil prices have been rising lately, supported by easing concerns about the spread of the Omicron variant. The first results of the study were encouraging. South African health officials have reported that infected patients have only mild symptoms. Thus, the pressure of the new virus on the economy may not be as serious. Also, quotes are growing amid problems in negotiations on a nuclear deal between Iran and representatives of European countries. The day before, German negotiators called the Iranian position unrealistic, after which further discussions were postponed. Difficulties in negotiations postpone the introduction of additional volumes of Iranian oil to the market. Continuation of this trend, as well as cold weather in Europe, may provide additional support to oil prices.

BUY LIMIT 74.70/TP 76.10/SL 74.15