Forex traders will get final Eurozone Manufacturing PMI data to start the new trading year. Economists expect no change from the previous reading, but Germany has shown a tendency to surprise to the downside. The EURAUD is in a holding pattern at the lower band of its horizontal support area. Will forex traders ignore December data and look forward to January, and what impact will this have on price action? Today’s fundamental analysis will take a look at price action in both directions.

The Chinese manufacturing sector clocked in below expectations for December, as measured by the Caixin Manufacturing PMI. The PBOC lowered its reserve ratio to 12.50%, down 50 basis points, in support of its fragile economy. Australian data confirmed the manufacturing recession, but forex traders did not react to the data. How will the EURAUD react after PMI data across the Eurozone will be announced? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.