Here are the key factors to keep in mind today for Australian Dollar trades:

• Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for January where reported at 4.3%. Forex traders can compare this to Australian Consumer Inflation Expectations for December which were reported at 3.4%.
• Australian Employment Report: The Australian Employment Change for December was reported at 13.5K. Economists predicted a figure of 10.0K. Forex traders can compare this to the Australian Employment Change for November which was reported at 37.1K. The Unemployment Rate for December was reported at 5.8%. Economists predicted a reading of 5.7%. Forex traders can compare this to the Unemployment Rate for November which was reported at 5.7%. 9.3K Full-Time Positions were created in December and 4.2K Part-Time Positions were created. Forex traders can compare this to the creation of 38.3K Full-Time Positions and the loss of 1.3K Part-Time Positions which were reported in November. The Labor Force Participation Rate for December was reported at 64.7%. Economists predicted a reading of 64.6%. Forex traders can compare this to the Labor Force Participation Rate for November which was reported at 64.6%.

Here are the key factors to keep in mind today for US Dollar trades:

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of January 14th are predicted at 251K and US Continuing Claims for the week of January 7th are predicted at 2,073K. Forex traders can compare this to US Initial Jobless Claims for the week of January 7th which were reported at 247K and US Continuing Claims for the week of December 31st which were reported at 2,087K.
• US Housing Starts and Building Permits: US Housing Starts for December are predicted to increase by 8.6% monthly to 1,184K starts and Building Permits are predicted to increase by 1.1% monthly to 1,225K permits. Forex traders can compare this to US Housing Starts for November which decreased by 18.7% monthly to 1,090K starts and Building Permits which decreased by 4.7% monthly to 1,201K permits.
• US Philadelphia Fed Index: The US Philadelphia Fed Index for January is predicted at 16.0. Forex traders can compare this to the US Philadelphia Fed Index for December which was reported at 21.5.

Should price action for the AUDUSD remain inside the or breakout above the 0.7500 to 0.7550 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 0.7525
• Take Profit Zone: 0.7750 – 0.7800
• Stop Loss Level: 0.7450

Should price action for the AUDUSD breakdown below 0.7500 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 0.7475
• Take Profit Zone: 0.7150 – 0.7200
• Stop Loss Level: 0.7550

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.