Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian CPI: The Australian CPI for the third-quarter increased by 0.4% quarterly and by 1.9% annualized. Economists predicted an increase of 0.5% quarterly and of 1.9% annualized. Forex traders can compare this to the Australian CPI for the second-quarter which increased by 0.4% quarterly and by 2.1% annualized. The RBA Trimmed Mean CPI for the third-quarter increased by 0.4% quarterly and by 1.8% annualized. Economists predicted an increase of 0.4% quarterly and of 1.9% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the second-quarter which increased by 0.4% quarterly and by 1.8% annualized. The RBA Weighted Median CPI for the third-quarter increased by 0.3% quarterly and by 1.7% 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 second-quarter which increased by 0.4% quarterly and by 1.7% annualized.
- Australian Private Sector Credit: Australian Private Sector Credit for September increased by 0.4% monthly and by 4.6% annualized. Economists predicted an increase of 0.4% monthly and of 4.5% annualized. Forex traders can compare this to Australian Private Sector Credit for August which increased by 0.5% monthly and by 4.5% annualized.
- Chinese PMI: The Chinese Non-Manufacturing PMI for October was reported at 53.9 and the Chinese Manufacturing PMI at 50.2. Economists predicted a figure of 54.6 and of 50.6 Forex traders can compare this to the Chinese Non-Manufacturing PMI for September which was reported at 54.9 and to the Chinese Manufacturing PMI which was reported at 50.8. The Chinese Composite PMI for October was reported at 53.1. Forex traders can compare this to the Chinese Composite PMI for September which was reported at 54.1.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Industrial Production: Preliminary Japanese Industrial Production for September decreased by 1.1% monthly and by 2.9% annualized. Economists predicted a decrease of 0.3% monthly and of 2.1% annualized. Forex traders can compare this to Japanese Industrial Production for August which increased by 0.2% monthly and by 0.2% annualized.
- Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
- Japanese Vehicle Production: Japanese Vehicle Production for August decreased by 0.3% annualized. Forex traders can compare this to Japanese Vehicle Production for July which decreased by 2.0% annualized.
- Japanese Consumer Confidence: Japanese Consumer Confidence for October was reported at 43.0. Economists predicted a figure of 43.5. Forex traders can compare this to Japanese Consumer Confidence for September which was reported at 43.4.
- Japanese Housing Starts and Construction Orders: Japanese Housing Starts for September decreased by 1.5% annualized to 0.943M units. Economists predicted a decrease of 0.8% annualized to 0.950M units. Forex traders can compare this to Japanese Housing Starts for August which increased by 1.6% annualized to 0.957M units. Construction Orders for September increased by 1.0% annualized. Forex traders can compare this to Construction Orders for August which decreased by 0.5% annualized.
Should price action for the AUDJPY remain inside the or breakout above the 79.750 to 80.450 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 80.000
- Take Profit Zone: 82.450– 83.250
- Stop Loss Level: 79.250
Should price action for the AUDJPY breakdown below 79.750 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 79.600
- Take Profit Zone: 78.150 – 78.600
- Stop Loss Level: 80.000
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