Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for April increased by 3.6% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for March which increased by 3.7% annualized.
- Australian Home Loans and Investment Lending: Australian Home Loans for February decreased by 0.2% monthly. Economists predicted a decrease of 0.4% monthly. Forex traders can compare this to Australian Home Loans for January which decreased by 1.0% monthly. Australian Investment Lending for February increased by 0.5% monthly and the Value of Loans increased by 1.3% monthly. Forex traders can compare this to Australian Investment Lending for January which increased by 1.4% monthly and to the Value of Loans which increased by 0.6% monthly.
- Australian Credit Card Purchases and Australian Credit Card Balances: Australian Credit Card Purchases for February were reported at A$25.3B and Australian Credit Card Balances at A$52.7B. Forex traders can compare this to Australian Credit Card Purchases for January which were reported at A$26.5B and to Australian Credit Card Balances which were reported at A$51.6B.
- Chinese Foreign Direct Investment: Chinese Foreign Direct Investment for March increased by 0.4% annualized. Forex traders can compare this to Chinese Foreign Direct Investment for February which increased by 0.8% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Import Price Index and US Export Price Index: The US Import Price Index for March is predicted to increase by 0.1% monthly and by 3.8% annualized. Forex traders can compare this to the US Import Price Index for February which increased by 0.4% monthly and by 3.5% annualized. The US Import Price Index excluding Petroleum for March is predicted to increase by 0.3% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for February which increased by 0.5% monthly. The US Export Price Index for March is predicted to increase by 0.2% monthly and by 3.6% annualized. Forex traders can compare this to the US Export Price Index for February which increased by 0.2% monthly and by 3.3% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of April 7th are predicted at 230K and US Continuing Claims for the week of March 31st are predicted at 1,848K. Forex traders can compare this to US Initial Jobless Claims for the week of March 31st which were reported at 242K and to US Continuing Claims for the week of March 24th which were reported at 1,808K.
Should price action for the AUDUSD remain inside the or breakout above the 0.7740 to 0.7770 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7750
- Take Profit Zone: 0.7940 – 0.7990
- Stop Loss Level: 0.7640
Should price action for the AUDUSD breakdown below 0.7740 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7720
- Take Profit Zone: 0.7590 – 0.7640
- Stop Loss Level: 0.7770
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
