Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian NAB Business Confidence: Australian NAB Business Confidence for the third-quarter was reported at 7. Forex traders can compare this to Australian NAB Business Confidence for the second-quarter which was reported at 8.
- Australian Employment Report: The Australian Employment Change for September was reported at 19.8K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for August which was reported at 53.0K. The Unemployment Rate for September was reported at 5.5%. Economists predicted a reading of 5.6%. Forex traders can compare this to the Unemployment Rate for August which was reported at 5.6%. 6.1K Full-Time Positions were created in September as well as 13.7K Part-Time Positions. Forex traders can compare this to the creation of 39.5K Full-Time Positions and the creation of 13.6K Part-Time Positions which were reported in August. The Labor Force Participation Rate for September was reported at 65.2%. Economists predicted a reading of 65.2%. Forex traders can compare this to the Labor Force Participation Rate for August which was reported at 65.2%.
- Australian CBA HIA House Affordability: Australian CBA HIA House Affordability for the third-quarter was reported at 69.3%. Forex traders can compare this to Australian CBA HIA House Affordability for the second-quarter which was reported at 69.1%.
- Chinese GDP: The Chinese GDP for the third-quarter increased by 1.7% quarterly and by 6.8% 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 second-quarter which increased by 1.8% quarterly and by 6.9% annualized.
- Chinese Retail Sales: Chinese Retail Sales for September increased by 10.3% annualized. Economists predicted an increase of 10.2% annualized. Forex traders can compare this to Chinese Retail Sales for August which increased by 10.1% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for September increased by 7.5% annualized. Economists predicted an increase of 7.7% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for August which increased by 7.8% annualized.
- Chinese Industrial Production: Chinese Industrial Production for September increased by 6.6% annualized. Economists predicted an increase of 6.5% annualized. Forex traders can compare this to Chinese Industrial Production for August which increased by 6.0% annualized.
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 October 13th was reported at ¥269.7B and Japanese Buying Foreign Stocks was reported at ¥153.7B. Forex traders can compare this to Japanese Buying Foreign Bonds for October 6th which was reported at ¥93.7B and to Japanese Buying Foreign Stocks which was reported at ¥371.7B. Foreign Buying Japanese Bonds for October 13th was reported at ¥207.6B and Foreigners Buying Japanese Stocks was reported at ¥840.7B. Forex traders can compare this to Foreign Buying Japanese Bonds for October 6th which was reported at ¥99.5B and to Foreigners Buying Japanese Stocks which was reported at ¥1,235.3B.
- Japanese Merchandise Trade Balance: The Japanese Merchandise Trade Balance for September was reported at ¥670.2B and the Adjusted Merchandise Trade Balance at ¥240.3B. Economists predicted a figure of ¥556.8B and of ¥309.2B. Forex traders can compare this to the Merchandise Trade Balance for August which was reported at ¥112.6B and to the Adjusted Merchandise Trade Balance which was reported at ¥308.3B. Merchandise Trade Exports for September increased by 14.1% annualized and Merchandise Trade Imports increased by 12.0% annualized. Economists predicted an increase of 15.0% annualized and of 14.7% annualized. Forex traders can compare this to Merchandise Trade Exports for August which increased by 18.1% annualized and to Merchandise Trade Imports which increased by 15.2% annualized.
Should price action for the AUDJPY remain inside the or breakout above the 88.500 to 89.000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 88.750
- Take Profit Zone: 90.000– 90.500
- Stop Loss Level: 88.000
Should price action for the AUDJPY breakdown below 88.500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 88.000
- Take Profit Zone: 86.700 – 87.200
- Stop Loss Level: 88.500
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