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For the 24 hours to 23:00 GMT, the AUD rose 0.08% against the USD and closed at 0.7606.

LME Copper prices declined 2.4% or $162.0/MT to $6645.0/MT. Aluminium prices declined 0.02% or $0.5/MT to $2052.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7580, with the AUD trading 0.34% lower against the USD from yesterday's close, after Australia's third quarter economic growth came in weaker-than-expected.

Data indicated that Australia's seasonally adjusted gross domestic product (GDP) expanded 0.6% in the three months to September, amid a sharp slowdown in household spending, thus justifying the Reserve Bank of Australia's decision of keeping interest rates on hold for longer. The nation's GDP had registered a rise of 0.8% in the prior quarter, while markets had expected for an advance of 0.7%.

The pair is expected to find support at 0.7550, and a fall through could take it to the next support level of 0.7520. The pair is expected to find its first resistance at 0.7632, and a rise through could take it to the next resistance level of 0.7684.

Looking ahead, traders would focus on Australia's AiG performance of construction index for November as well as trade balance data for October, both due overnight.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the EUR declined 0.35% against the USD and closed at 1.1829, after Eurozone's retail sales unexpectedly dropped in October and a final reading on Germany's Markit services PMI showed an unexpected drop in November.

Data showed that Eurozone's seasonally adjusted retail sales slid more-than-anticipated by 1.1% MoM in October, compared to a revised advance of 0.8% in the previous month. Market expectation was for retail sales to fall 0.7%. Additionally, activity in Germany's services sector unexpectedly slowed to a three-month low level of 54.3 in November, while the preliminary figures had indicated an advance to a level of 54.9. In the previous month, the PMI had registered a level of 54.7.

Meanwhile, the Euro-zone's final Markit services PMI climbed to a six-month high level of 56.2 in November, confirming the preliminary print. The PMI had registered a reading of 55.0 in the previous month.

Macroeconomic data releases in the US indicated that the ISM non-manufacturing PMI declined more-than-expected to a level of 57.4 in November, amid a notable slowdown in new orders. Market participants had envisaged the PMI to drop to a level of 59.0, compared to a level of 60.1 in the prior month.

Moreover, the nation's final Markit services PMI dropped more than initially estimated to a level of 54.5 in November, compared to a level of 55.3 in the prior month. Meanwhile, the preliminary figures had recorded a drop to a level of 54.7.

Other data revealed that trade deficit in the US widened more-than-anticipated to $48.7 billion in October, hitting a nine-month high level, amid a surge in imports, thus suggesting that trade could act as a drag on the nation's fourth quarter growth. The nation had reported a revised trade deficit of $44.9 billion in the previous month, while market participants had expected for deficit of $47.5 billion.

In the Asian session, at GMT0400, the pair is trading at 1.1841, with the EUR trading 0.1% higher against the USD from yesterday's close.

The pair is expected to find support at 1.1802, and a fall through could take it to the next support level of 1.1764. The pair is expected to find its first resistance at 1.1878, and a rise through could take it to the next resistance level of 1.1916.

Going ahead, traders would keep a close watch on Germany's factory orders for October, followed by Markit construction PMI for November, both due to release in a few hours. Moreover, in the US, the APD employment change data for November, slated to release later in the day, will garner significant amount of investor attraction.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the GBP declined 0.42% against the USD and closed at 1.3417, after UK's services sector disappointed with a weaker-than-expected performance in November.

Data revealed that UK's Markit services PMI eased more-than-expected to a level of 53.8 in November, down from a six-month high level of 55.6 in October, as uncertainty over political developments in the nation dented business sentiments. Meanwhile, markets had envisaged the PMI to fall to a level of 55.0.

In the Asian session, at GMT0400, the pair is trading at 1.3435, with the GBP trading 0.13% higher against the USD from yesterday's close.

The pair is expected to find support at 1.3379, and a fall through could take it to the next support level of 1.3322. The pair is expected to find its first resistance at 1.3484, and a rise through could take it to the next resistance level of 1.3532.

In the absence of any macroeconomic news in Britain today, investor sentiment would be governed by global macroeconomic factors.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD rose 0.08% against the JPY and closed at 112.57.

In the Asian session, at GMT0400, the pair is trading at 112.24, with the USD trading 0.29% lower against the JPY from yesterday’s close.

The pair is expected to find support at 112.00, and a fall through could take it to the next support level of 111.75. The pair is expected to find its first resistance at 112.68, and a rise through could take it to the next resistance level of 113.11.

Moving ahead, market participants will closely monitor Japan’s flash leading economic and coincident indices, both for October, due to release tomorrow.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.28% against the CHF and closed at 0.9873.

In the Asian session, at GMT0400, the pair is trading at 0.9869, with the USD trading marginally lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9841, and a fall through could take it to the next support level of 0.9814. The pair is expected to find its first resistance at 0.9892, and a rise through could take it to the next resistance level of 0.9916.

Ahead in the day, the release of Switzerland’s consumer price inflation data for November, wold be on investors’ radar.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CAD and closed at 1.2695.

On the data front, Canada's international merchandise trade deficit narrowed more-than-expected to C$1.47 billion in October, following a revised deficit of C$3.36 billion in the prior month. Market participants had anticipated the nation's international merchandise trade deficit to drop to C$2.70 billion.

In the Asian session, at GMT0400, the pair is trading at 1.2695, with the USD trading flat against the USD from yesterday's close.

The pair is expected to find support at 1.2644, and a fall through could take it to the next support level of 1.2592. The pair is expected to find its first resistance at 1.2727, and a rise through could take it to the next resistance level of 1.2758.

Trading trend in the CAD today is expected to be determined by the Bank of Canada's (BoC) interest rate decision, due to be announced later in the day. Investors broadly anticipate the central bank to remain pat on monetary policy.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Nasdaq Short term Elliott Wave view suggests that the rally to 6429.5 ended Intermediate wave (3). Intermediate wave (4) pullback is currently in progress to correct cycle from 8/21 low (5753.6) in 3, 7, or 11 swing before Index resumes the rally. Subdivision of Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6246 and Minor wave X ended at 6391.75. Minor wave Y of (4) is in progress towards 6096.66 – 6209.70 area, then Index should resume the rally higher from there or bounce in 3 waves at least. We don’t like selling the proposed pullback and expect buyers to appear from the above area for at least a 3 waves bounce as far as pivot at 8/21 low (5753.6) stays intact.

NQ_F Nasdaq 1 Hour Elliott Wave Chart

Daily Pivots: (S1) 150.62; (P) 151.21; (R1) 151.91; More...

GBP/JPY failed to sustain above 152.82 resistance and formed a temporary top at 152.93 and retreated. Intraday bias stays neutral for the moment. As long as 146.96 support holds, near term outlook remains bullish. Break of 152.93 will resume medium term rally and target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32.

In the bigger picture, medium term rebound from 122.36 is still expected to resume after consolidation from 152.82 completes. Firm break of 38.2% retracement of 196.85 to 122.36 at 150.43 will carry long term bullish implications. In that case, GBP/JPY could target 61.8% retracement at 167.78. However, break of 46.96 support will indicate rejection from 150.43 key fibonacci level. And the three wave corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.

Daily Pivots: (S1) 132.84; (P) 133.29; (R1) 133.58; More....

Intraday bias in EUR/JPY remains neutral as it's staying in corrective trading below 134.37 temporary top. We're favoring the case that medium term up trend is nearly ready to resume. Break of 134.48 will target 61.8% projection of 127.55 to 134.48 from 131.16 at 135.44 and then 100% projection at 138.09. However, firm break of 131.16 support will now indicate near term trend reversal and turn outlook bearish for 127.55 key support.

In the bigger picture, medium term rise from 109.03 (2016 low) is seen as at the same degree as the down trend from 149.76 (2014 high) to 109.03 (2016 low). 61.8% retracement of 149.76 to 109.03 at 134.20 is already met. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. However, break of 127.55 support will suggest medium term topping and will turn outlook bearish for deeper fall back to 114.84/124.08 support zone at least.

Daily Pivots: (S1) 1.5486; (P) 1.5551; (R1) 1.5608; More....

EUR/AUD rebounds ahead of 1.5458 support and intraday bias is turned neutral first. Overall, price actions from 1.5770 is seen as a consolidation pattern. In case of another fall, we'd expect strong support above 1.5226 key support to bring rebound. Medium term rally is still expected to resume later and break of 1.5770 will target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

In the bigger picture, we're holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We'll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).