Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for February increased by 3.6% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for January which increased by 3.7% annualized.
- Australian Employment Report: The Australian Employment Change for January was reported at 16.0K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for December which was reported at 33.5K. The Unemployment Rate for January was reported at 5.5%. Economists predicted a reading of 5.5%. Forex traders can compare this to the Unemployment Rate for December which was reported at 5.6%. 49.8K Full-Time Positions were lost in January and 65.9K Part-Time Positions were created. Forex traders can compare this to the creation of 12.7K Full-Time Positions and the creation of 20.7K Part-Time Positions which were reported in December. The Labor Force Participation Rate for January was reported at 65.6%. Economists predicted a reading of 65.6%. Forex traders can compare this to the Labor Force Participation Rate for December which was reported at 65.7%.
Here are the key factors to keep in mind today for US Dollar trades:
- US Empire Manufacturing Index: The US Empire Manufacturing Index for February is predicted at 18.0. Forex traders can compare this to the US Empire Manufacturing Index for January which was reported at 17.7.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of February 10th are predicted at 227K and US Continuing Claims for the week of February 3rd are predicted at 1,928K. Forex traders can compare this to US Initial Jobless Claims for the week of February 3rd which were reported at 221K and to US Continuing Claims for the week of January 27th which were reported at 1,923K.
- US PPI: The US PPI for January is predicted to increase by 0.4% monthly and by 2.5% annualized. Forex traders can compare this to the US PPI for December which decreased by 0.1% monthly and which increased by 2.6% annualized. The US Core PPI for January is predicted to increase by 0.2% monthly and by 2.1% annualized. Forex traders can compare this to the US Core PPI for December which decreased by 0.1% monthly and which increased by 2.3% annualized. The US Core PPI ex Trade for January is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US Core PPI ex Trade for December which increased by 0.1% monthly and by 2.3% annualized.
- Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for February is predicted at 21.6. Forex traders can compare this to the Philadelphia Fed Business Outlook for January which was reported at 22.2.
- US Industrial Production and Manufacturing Production: US Industrial Production for January is predicted to increase by 0.2% monthly and Manufacturing Production is predicted to increase by 0.3% monthly. Forex traders can compare this to US Industrial Production for December which increased by 0.9% monthly and to Manufacturing Production which increased by 0.1% monthly. Capacity Utilization for January is predicted at 78.0%. Forex traders can compare this to Capacity Utilization for December which was reported at 77.9%.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for February is predicted at 72. Forex traders can compare this to the US NAHB Housing Market Index for January which was reported at 72.
Should price action for the AUDUSD remain inside the or breakout above the 0.7930 to 0.7970 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7950
- Take Profit Zone: 0.8100 – 0.8135
- Stop Loss Level: 0.7875
Should price action for the AUDUSD breakdown below 0.7930 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7910
- Take Profit Zone: 0.7760 – 0.7810
- Stop Loss Level: 0.7950
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
