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Australia Services PMI Improves To 50.8 - S%P Global

2024-12-30 3777

(fxcue news) - The services sector in Australia continued to expand in December, and at a faster rate, the latest survey from S&P Global revealed on Monday with a services PMI score of 50.8. That's up from 50.5 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Optimism improved, rising to the highest level in just over two-and-a-half years. That said, employment fell for the first time since August 2021 as capacity pressure softened. Finally, input cost inflation intensified at the end of 2024, leading to a more pronounced rise in average charges. The rate of input cost inflation was also the highest in three months and fractionally below the series average. Likewise output charges rose at a faster pace that was just below the long-run average as Australian service providers opted to share additional cost burdens with clients wherever possible.

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Australia Services PMI Improves To 50.8 - S%P Global

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Australia Services PMI Improves To 50.8 - S%P Global

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Trader

Today, crude oil supported 74.5 and continued to rise directly to 75.3. If it accidentally falls back to 74.5 tonight, or even breaks through 74.4, it belongs to a small wash. If it rebounds and stabilizes above the daily moving average of 73.7, it is still necessary to try to be bullish;

1.8 Gold US trading strategy: Short selling near 1:2656, stop loss 2666, target 2646-2640; strategy 2: Buy long near 2633, stop loss at 2623, target at 2642-2648;

Short selling in the 74.87 area of US crude oil (default stop loss of 50 points, set breakeven stop loss for profit of 50 points, pursue high win rate of 75 points. Band moving stop loss protects existing profits held until take profit)

1.8 Gold Trading Reference: Gold rebounds around 2656-2660, with short selling (buy down) of 2/10 positions in batches, stop loss of 6 points, target around 2645-2630, break at the 2615 line;

1/8 Gold Day Short term Strategy Reference: 1. The rebound saw a short sale near 2662 for the first time, with a loss of 2668. The target is 2650-2640-2630; 2. Falling back for the first time at 2632. Short buy once more, loss at 2628, target at 2642-2652-2662!

EUR/USD 1.03850 short, stop loss 1.04050, target below 1.03350, break below 1.03000 and 1.02700

Today's spot silver was sold short at 30.25, with a stop loss of 30.45. The lower targets are at 30 and 29.85, with a drop below the support range of 29.6-29.5.

If spot gold rises today, it will be sold short at 2660 with a stop loss of 2666. The targets below are 2645, 2640, and 2634-2630

The main focus of crude oil retracement is buying long at low prices, supplemented by short selling at high prices during rebound. Short term attention is paid to the resistance line of 75.8-76.3 above, while short-term attention is paid to the support line of 73.7-73.2 below.

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Australia Services PMI Improves To 50.8 - S%P Global

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China Services PMI Data Due On Monday

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Australia Services PMI Improves To 50.8 - S%P Global

Federal Reserve Board Member: Further interest rate cuts need to be approached with caution

Please sign in

Trader

Today, crude oil supported 74.5 and continued to rise directly to 75.3. If it accidentally falls back to 74.5 tonight, or even breaks through 74.4, it belongs to a small wash. If it rebounds and stabilizes above the daily moving average of 73.7, it is still necessary to try to be bullish;

1.8 Gold US trading strategy: Short selling near 1:2656, stop loss 2666, target 2646-2640; strategy 2: Buy long near 2633, stop loss at 2623, target at 2642-2648;

Short selling in the 74.87 area of US crude oil (default stop loss of 50 points, set breakeven stop loss for profit of 50 points, pursue high win rate of 75 points. Band moving stop loss protects existing profits held until take profit)

1.8 Gold Trading Reference: Gold rebounds around 2656-2660, with short selling (buy down) of 2/10 positions in batches, stop loss of 6 points, target around 2645-2630, break at the 2615 line;

1/8 Gold Day Short term Strategy Reference: 1. The rebound saw a short sale near 2662 for the first time, with a loss of 2668. The target is 2650-2640-2630; 2. Falling back for the first time at 2632. Short buy once more, loss at 2628, target at 2642-2652-2662!

EUR/USD 1.03850 short, stop loss 1.04050, target below 1.03350, break below 1.03000 and 1.02700

Today's spot silver was sold short at 30.25, with a stop loss of 30.45. The lower targets are at 30 and 29.85, with a drop below the support range of 29.6-29.5.

If spot gold rises today, it will be sold short at 2660 with a stop loss of 2666. The targets below are 2645, 2640, and 2634-2630

The main focus of crude oil retracement is buying long at low prices, supplemented by short selling at high prices during rebound. Short term attention is paid to the resistance line of 75.8-76.3 above, while short-term attention is paid to the support line of 73.7-73.2 below.

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