Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian TD Securities Inflation: Australian TD Securities Inflation for April increased by 0.5% monthly and by 2.6% annualized. Forex traders can compare this to Australian TD Securities Inflation for March which increased by 0.1% monthly and by 2.1% annualized.
- Australian Commodity Index: The Australian Commodity Index for April was reported at 132.7. Forex traders can compare this to the Australian Commodity Index for March which was reported at 138.5.
Here are the key factors to keep in mind today for US Dollar trades:
- US Personal Income and Personal Spending: US Personal Income for March increased by 0.2% monthly and Personal Spending was reported flat at 0.0% monthly. Economists predicted an increase of 0.3% monthly and of 0.2% monthly. Forex traders can compare this to Personal Income for February which increased by 0.3% monthly and to Personal Spending which was reported flat at 0.0% monthly. Real Personal Spending for March increased by 0.3% monthly. Economists predicted an increase of 0.4% monthly. Forex traders can compare this to Real Personal Spending for February which decreased by 0.1% monthly. The PCE Deflator for March decreased by 0.2% monthly and increased by 1.8% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 1.9% annualized. Forex traders can compare this to the PCE Deflator for February which increased by 0.1% monthly and by 2.1% annualized. The PCE Core Deflator for March decreased by 0.1% monthly and increased by 1.6% annualized. Economists predicted a decrease of 0.1% monthly and an increase of 1.6% annualized. Forex traders can compare this to the PCE Core Deflator for February which increased by 0.2% monthly and by 1.8% annualized.
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for April was reported at 52.8. Economists predicted a figure of 52.8. Forex traders can compare this to the previous US Markit Manufacturing PMI for April which was reported at 52.8.
- US Construction Spending: US Construction Spending for March decreased by 0.2% monthly. Economists predicted an increase of 0.4% monthly. Forex traders can compare this to US Construction Spending for February which increased by 0.8% monthly.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for April was reported at 54.8. Economists predicted a figure of 56.5. Forex traders can compare this to the US ISM Manufacturing Index for March which was reported at 57.2. ISM Prices Paid for April were reported at 68.5. Economists predicted a figure of 67.8. Forex traders can compare this to ISM Prices Paid for March which were reported at 70.5.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7500 to 0.7550 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7525
- Take Profit Zone: 0.7150 – 0.7200
- Stop Loss Level: 0.7650
Should price action for the AUDUSD breakout above 0.7550 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7600
- Take Profit Zone: 0.7700 – 0.7750
- Stop Loss Level: 0.7500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
