Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for January increased by 3.7% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for December which increased by 3.7% annualized.
- Australian Employment Report: The Australian Employment Change for December was reported at 34.7K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for November which was reported at 63.6K. The Unemployment Rate for December was reported at 5.5%. Economists predicted a reading of 5.4%. Forex traders can compare this to the Unemployment Rate for November which was reported at 5.4%. 15.1K Full-Time Positions were created in December and 19.5K Part-Time Positions were created. Forex traders can compare this to the creation of 43.6K Full-Time Positions and the creation of 20.0K Part-Time Positions which were reported in November. The Labor Force Participation Rate for December was reported at 65.7%. Economists predicted a reading of 65.5%. Forex traders can compare this to the Labor Force Participation Rate for November which was reported at 65.5%.
- Chinese GDP: The Chinese GDP for the fourth-quarter increased by 1.6% quarterly and by 6.9% annualized. Economists predicted an increase of 1.7% quarterly and of 6.8% annualized. Forex traders can compare this to the Chinese GDP for the third-quarter which increased by 1.7% quarterly and by 6.9% annualized.
- Chinese Industrial Production: Chinese Industrial Production for December increased by 6.2% annualized. Economists predicted an increase of 6.1% annualized. Forex traders can compare this to Chinese Industrial Production for November which increased by 6.1% annualized.
- Chinese Retail Sales: Chinese Retail Sales for December increased by 10.2% annualized. Economists predicted an increase of 10.2% annualized. Forex traders can compare this to Chinese Retail Sales for November which increased by 10.2% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for December increased by 7.2% annualized. Economists predicted an increase of 7.1% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for November which increased by 7.2% annualized.
Here are are 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 January 12th was reported at ¥953.5B and Japanese Buying Foreign Stocks was reported at ¥89.2B. Forex traders can compare this to Japanese Buying Foreign Bonds for January 5th which was reported at ¥186.6B and to Japanese Buying Foreign Stocks which was reported at ¥217.0B. Foreign Buying Japanese Bonds for January 12th was reported at ¥86.8B and Foreigners Buying Japanese Stocks was reported at ¥498.7B. Forex traders can compare this to Foreign Buying Japanese Bonds for January 5th which was reported at -¥127.3B and to Foreigners Buying Japanese Stocks which was reported at ¥598.7B.
- Japanese Industrial Production and Capacity Utilization: Final Japanese Industrial Production for November increased by 0.5% monthly and by 3.6% annualized. Forex traders can compare this to the previous Japanese Industrial Production for November which increased by 0.6% monthly and by 3.7% annualized. Final Capacity Utilization for November was reported flat at 0.0% monthly. Forex traders can compare this to previous Capacity Utilization for November which increased by 0.2% monthly.
Should price action for the AUDJPY remain inside the or breakdown below the 88.300 to 88.900 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 88.600
- Take Profit Zone: 84.350 – 84.650
- Stop Loss Level: 89.650
Should price action for the AUDJPY breakout above 88.900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 89.100
- Take Profit Zone: 90.300 – 90.300
- Stop Loss Level: 88.800
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