Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for May increased by 3.3% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for April which increased by 3.9% annualized.
- Chinese New Home Prices: Chinese New Home Prices for April increased by 0.62% monthly. Forex traders can compare this to Chinese New Home Prices for March which increased by 0.60% monthly.
- Australian Employment Report: The Australian Employment Change for April was reported at 28.4K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for March which was reported at 27.7K. The Unemployment Rate for April was reported at 5.2%. Economists predicted a reading of 5.0%. Forex traders can compare this to the Unemployment Rate for March which was reported at 5.0%. 6.3K Full-Time Positions were lost and 34.7K Part-Time Positions were created in April. Forex traders can compare this to the creation of 49.2K Full-Time Positions and to the loss of 21.5K Part-Time Positions which were reported in March. The Labor Force Participation Rate for April was reported at 65.8%. Economists predicted a reading of 65.7%. Forex traders can compare this to the Labor Force Participation Rate for March which was reported at 65.7%.
- RBA FX Transactions: RBA FX Transactions for April were reported at A$873M. Forex traders can compare this to RBA FX Transactions for March which were reported at A$1,182M. RBA FX Government Transactions for April were reported at -A$993M and RBA FX Other Transactions were reported at -A$4,667M. Forex traders can compare this to RBA FX Government Transactions for March which were reported at -A$1,261 and to RBA FX Other Transactions which were reported at A$2,276M.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending May 10th was reported at ¥20.8B and Japanese Buying Foreign Stocks was reported at ¥123.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending May 3rd which was reported at -¥257.0B and to Japanese Buying Foreign Stocks which was reported at -¥31.9B. Foreign Buying Japanese Bonds for the period ending May 10th was reported at ¥553.5B and Foreigners Buying Japanese Stocks was reported at ¥282.5B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending May 3rd which was reported at -¥2.8B and to Foreigners Buying Japanese Stocks which was reported at ¥640.1B.
- Japanese Domestic Corporate Goods Price Index: The Japanese Domestic Corporate Goods Price Index for April increased by 0.3% monthly and by 1.2% annualized. Economists predicted an increase of 0.2% monthly and of 1.1% annualized. Forex traders can compare this to the Japanese Domestic Corporate Goods Price Index for March which increased by 0.3% monthly by 1.3% annualized.
- Japanese Loans & Discounts: Japanese Loans & Discounts for March increased by 3.59% annualized. Forex traders can compare this to Japanese Loans & Discounts for February which increased by 3.25%.
Should price action for the AUDJPY remain inside the or breakout above the 75.400 to 76.150 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 75.650
- Take Profit Zone: 77.500– 78.100
- Stop Loss Level: 75.000
Should price action for the AUDJPY breakdown below 75.400 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 75.200
- Take Profit Zone: 72.400 – 73.850
- Stop Loss Level: 75.650
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