Australian consumer confidence rebounded strongly for the month of November while wage growth extended. This may be a positive sign for the holiday shopping season which officially kicked off earlier this week. The AUDUSD remained well supported as forex traders follow developments surrounding the phase one trade deal between the US and China which continues to lack derails. Will bulls rally this currency pair further or can bears make a stand? Today’s fundamental analysis will take a look at price action in both directions.

Today’s inflation data out of the US will likely confirm that inflation remains subdued. While the US Fed cut interest rates three times, it requires time for those cute to work through the economy. Real average hourly earnings for October are anticipated to post a minor gain which further erases inflationary pressures while the budget deficit is set to expand faster. How will the AUDUSD trader after the release of US economic data? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.