Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian CPI: The Australian CPI for the fourth-quarter of 2016 increased by 0.6% quarterly and by 1.9% annualized. Economists predicted an increase of 0.7% quarterly and of 2.0% annualized. Forex traders can compare this to the Australian CPI for the third-quarter of 2016 which increased by 0.6% quarterly and by 1.8% annualized. The RBA Trimmed Mean CPI for the fourth-quarter of 2016 increased by 0.4% quarterly and by 1.8% annualized. Economists predicted an increase of 0.5% quarterly and of 1.8% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the third-quarter of 2016 which increased by 0.4% quarterly and by 1.8% annualized. The RBA Weighted Median CPI for the fourth-quarter of 2016 increased by 0.4% quarterly and by 2.0% annualized. Economists predicted an increase of 0.4% quarterly and of 1.9% annualized. Forex traders can compare this to the RBA Weighted Median CPI for the third-quarter of 2016 which increased by 0.4% quarterly and by 1.9% annualized.
- Australian Private Sector Credit: Australian Private Sector Credit for December increased by 0.3% monthly and by 4.8% annualized. Economists predicted an increase of 0.5% monthly and of 5.2% annualized. Forex traders can compare this to Australian Private Sector Credit for November which increased by 0.5% monthly and by 5.4% annualized.
- Chinese Non-Manufacturing PMI and Chinese Manufacturing PMI: The Chinese Non-Manufacturing PMI for January was reported at 55.3 and the Chinese Manufacturing PMI at 51.3. Economists predicted a figure of 54.9 and of 51.5. Forex traders can compare this to the Chinese Non-Manufacturing PMI for December which was reported at 55.0 and to the Chinese Manufacturing PMI which was reported at 51.6.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Industrial Production: Preliminary Japanese Industrial Production for December increased by 2.7% monthly and by 4.2% annualized. Economists predicted an increase of 1.5% monthly and of 3.2% annualized. Forex traders can compare this to Japanese Industrial Production for November which increased by 0.5% monthly and by 3.6% annualized.
- Japanese Vehicle Sales: Japanese Vehicle Sales for December increased by 1.3% annualized. Forex traders can compare this to Japanese Vehicle Sales for November which increased by 0.9% annualized.
- Japanese Consumer Confidence: Japanese Consumer Confidence for January was reported at 44.7. Economists predicted a figure of 44.9. Forex traders can compare this to Japanese Consumer Confidence for December which was reported at 44.7.
- Japanese Housing Starts and Construction Orders: Japanese Housing Starts for December decreased by 2.1% annualized to 0.936M units. Economists predicted an increase of 1.1% annualized to 0.953M units. Forex traders can compare this to Japanese Housing Starts for November which decreased by 0.4% annualized to 0.951M units. Construction Orders for December decreased by 8.1% annualized. Forex traders can compare this to Construction Orders for November which increased by 20.5% annualized.
Should price action for the AUDJPY remain inside the or breakdown below the 87.600 to 88.300 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 87.950
- Take Profit Zone: 84.350 – 84.650
- Stop Loss Level: 89.050
Should price action for the AUDJPY breakout above 88.300 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 88.500
- Take Profit Zone: 83.500 – 90.300
- Stop Loss Level: 87.950
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