Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Skilled Vacancies: Australian Skilled Vacancies for June decreased by 1.0% monthly. Forex traders can compare this to Australian Skilled Vacancies for May which decreased by 1.2% monthly.
- Australian CPI: The Australian CPI for the second-quarter of 2018 increased by 0.4% quarterly and by 2.1% annualized. Economists predicted an increase of 0.5% quarterly and of 2.2% annualized. Forex traders can compare this to the Australian CPI for the first-quarter of 2018 which increased by 0.4% quarterly and by 1.9% annualized. The RBA Trimmed Mean CPI for the second-quarter of 2018 increased by 0.5% 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 RBA Trimmed Mean CPI for the first-quarter of 2018 which increased by 0.6% quarterly and by 1.9% annualized. The RBA Weighted Median CPI for the second-quarter of 2018 increased by 0.5% 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 RBA Weighted Median CPI for the first-quarter of 2018 which increased by 0.5% quarterly and by 2.1% annualized.
Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Trade Balance: The New Zealand Trade Balance for June was reported at -NZ$113M monthly and at -NZ$4,031M 12-month year-to-date. Economists predicted a figure of NZ$200M and of -NZ$3,681. Forex traders can compare this to the New Zealand Trade Balance for May which was reported at NZ$208M monthly and at -NZ$3,675M 12-month year-to-date. Exports for June were reported at NZ$4.91B and Imports were reported at NZ$5.02B. Economists predicted a figure of NZ$5.06B and of NZ$4.92B. Forex traders can compare this to Exports for May which were reported at NZ$5.35B and to Imports which were reported at NZ$5.15B.
Should price action for the AUDNZD remain inside the or breakdown below the 1.0860 to 1.0900 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0880
- Take Profit Zone: 1.0490 – 1.0525
- Stop Loss Level: 1.0990
Should price action for the AUDNZD breakout above 1.0900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0915
- Take Profit Zone: 1.1030 – 1.1070
- Stop Loss Level: 1.0880
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
