Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for November increased by 3.6% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for October which increased by 4.0% annualized.
- Australian Employment Report: The Australian Employment Change for October was reported at 32.8K. Economists predicted a figure of 20.0K. Forex traders can compare this to the Australian Employment Change for September which was reported at 7.8K. The Unemployment Rate for October was reported at 5.0%. Economists predicted a reading of 5.1%. Forex traders can compare this to the Unemployment Rate for September which was reported at 5.0%. 42.3K Full-Time Positions were created and 9.5K Part-Time Positions were lost in October. Forex traders can compare this to the creation of 24.6K Full-Time Positions and to the loss of 16.8K Part-Time Positions which were reported in September. The Labor Force Participation Rate for October was reported at 65.6%. Economists predicted a reading of 65.5%. Forex traders can compare this to the Labor Force Participation Rate for September which was reported at 65.5%.
- Chinese New Home Prices: Chinese New Home Prices for October increased by 1.02% monthly. Forex traders can compare this to Chinese New Home Prices for September which increased by 1.00% monthly.
Here are the key factors to keep in mind today for US Dollar trades:
- US Empire Manufacturing Index: The US Empire Manufacturing Index for November is predicted at 20.0. Forex traders can compare this to the US Empire Manufacturing Index for October which was reported at 21.1.
- US Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for November is predicted at 20.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for October which was reported at 22.2.
- US Advanced Retail Sales: US Advanced Retail Sales for October are predicted to increase by 0.5% monthly and Retail Sales Less Autos are predicted to increase by 0.5% monthly. Forex traders can compare this to US Advanced Retail Sales for September which increased by 0.1% monthly and to Retail Sales Less Autos which decreased by 0.1% monthly. Retail Sales Less Autos and Gas for October are predicted to increase by 0.4% monthly and Retail Sales Control Group are predicted to increase by 0.4% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for September which were reported flat at 0.0% monthly and to Retail Sales Control Group which increased by 0.5% monthly.
- US Import and Export Price Index: The US Import Price Index for October is predicted to increase by 0.1% monthly and by 3.4% annualized. Forex traders can compare this to the US Import Price Index for September which increased by 0.5% monthly and by 3.5% annualized. The US Import Price Index excluding Petroleum for October is predicted flat at 0.0% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for September which was reported flat at 0.0% monthly. The US Export Price Index for October is predicted flat at 0.0% monthly and to increase by 2.7% annualized. Forex traders can compare this to the US Export Price Index for September which was reported flat at 0.0% monthly and which increased by 2.7% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of November 10th are predicted at 214K and US Continuing Claims for the week of November 3rd are predicted at 1,630K. Forex traders can compare this to US Initial Jobless Claims for the week of November 3rd which were reported at 214K and to US Continuing Claims for the week of October 27th which were reported at 1,623K.
- US Business Inventories: US Business Inventories for September are predicted to increase by 0.3% monthly. Forex traders can compare this to US Business Inventories for August which increased by 0.5% monthly.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7250 to 0.7300 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7260
- Take Profit Zone: 0.7020 – 0.7040
- Stop Loss Level: 0.7360
Should price action for the AUDUSD breakout above 0.7300 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7330
- Take Profit Zone: 0.7430 – 0.7460
- Stop Loss Level: 0.7300
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
