LOOK AHEAD: UK Timeline of Key Events (Times GMT)
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CHINA PRESS: China Should Focus On Revitalising Assets
Authorities must pay more attention to revitalising existing assets, by optimising asset management and project operation capabilities as well as eliminating those with negative cash flow, said Chen Daofu, deputy director of the Institute of Finance at the Development Research Centre of the State Council. Meanwhile, it is necessary to promote market-oriented reforms of public utility prices such as water, electricity, gas, and public transportation to improve the return on resources, said Chen, noting that this should be combined with reasonable subsidies to ensure the welfare of low-income groups remains unchanged. (Source: 21st Century Business Herald)
LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 30-Dec | 0800 | ES | HICP (p) |
| 02-Jan | 0815 | ES | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0845 | IT | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0850 | FR | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0855 | DE | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0900 | EU | S&P Global Manufacturing PMI (f) / M3 |
| 06-Jan | 0745 | FR | HICP (p) |
| 06-Jan | 0815 | ES | S&P Global Services / Composite PMI |
| 06-Jan | 0845 | IT | S&P Global Services / Composite PMI |
| 06-Jan | 0850 | FR | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0855 | DE | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0900 | DE | Regional CPIs |
| 06-Jan | 0900 | EU | S&P Global Services / Composite PMI (f) |
| 06-Jan | 1300 | DE | Germany CPI (p) |
EURUSD TECHS: Bull Cycle Intact
- RES 4: 1.1936 2.382 proj of the Nov 5 - 13 - 21 price swing
- RES 3: 1.1919 - High Sep 17 and a key M/T resistance
- RES 2: 1.1848 High Sep 18
- RES 1: 1.1813 76.4% retracement of the Sep 17 - Nov 5 bear leg
- PRICE: 1.1777 @ 06:14 GMT Dec 30
- SUP 1: 1.1721 20-day EMA
- SUP 2: 1.1673 50-day EMA
- SUP 3: 1.1615 Low Dec 9
- SUP 4: 1.1591 Low Dec 2
The trend in EURUSD is unchanged, it remains bullish and the pair is trading closer to its recent highs. The first important support lies at 1.1721, the 20-day EMA. A clear breach of this average would signal scope for a deeper retracement, allowing an overbought condition to unwind. Key short-term resistance at 1.1804, the Dec 16 high, has been pierced. Clearance of this hurdle would confirm a resumption of the uptrend.
