Australian home loans came in better-than-expected in November, but still below October’s reading. Investment lending rose at a healthy clip, adding to bullish momentum in the Australian Dollar. As markets digest the US-China trade deal, which is already showing signs of weakness, the AUDUSD maintained its bullish chart pattern. What impact will US economic data have on price action today? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will look forward to today’s initial jobless claims, which have moved higher over the past few weeks. Last week’s NFP disappointment is adding to concerns over the health of the labor market. Retail sales will also be in focus. Economists predict a small increase in December. The AUDUSD is in a holding pattern inside of its horizontal support area. How will price action react following the release of data? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.