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 3.7% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for October which increased by 4.3% annualized.
- Australian Employment Report: The Australian Employment Change for October was reported at 3.7K. Economists predicted a figure of 18.8K. Forex traders can compare this to the Australian Employment Change for September which was reported at 26.6K. The Unemployment Rate for October was reported at 5.4%. Economists predicted a reading of 5.5%. Forex traders can compare this to the Unemployment Rate for September which was reported at 5.5%. 24.3K Full-Time Positions were created in October and 20.7K Part-Time Positions were lost. Forex traders can compare this to the creation of 9.3K Full-Time Positions and the creation of 17.3K Part-Time Positions which were reported in September. The Labor Force Participation Rate for October was reported at 65.1%. Economists predicted a reading of 65.2%. Forex traders can compare this to the Labor Force Participation Rate for September which was reported at 65.2%.
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 November 11th are predicted at 234K and US Continuing Claims for the week of November 4th are predicted at 1,910K. Forex traders can compare this to US Initial Jobless Claims for the week of November 4th which were reported at 239K and US Continuing Claims for the week of October 28th which were reported at 1,901K.
- Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for November is predicted at 24.1. Forex traders can compare this to the Philadelphia Fed Business Outlook for October which was reported at 27.9.
- US Import Price Index: The US Import Price Index for October is predicted to increase by 0.4% monthly and by 2.5% annualized. Forex traders can compare this to the US Import Price Index for September which increased by 0.7% monthly and by 2.7% annualized. The US Import Price Index excluding Petroleum for October is predicted to increase by 0.2% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for September which increased by 0.3% monthly. The US Export Price Index for October is predicted to increase by 0.4% monthly and by 2.6% annualized. Forex traders can compare this to the US Export Price Index for September which increased by 0.8% monthly and by 2.9% annualized.
- US Industrial Production and Manufacturing Production: US Industrial Production for October is predicted to increase by 0.5% monthly and Manufacturing Production is predicted to increase by 0.6% monthly. Forex traders can compare this to US Industrial Production for September which increased by 0.3% monthly and to Manufacturing Production which increased by 0.1% monthly.Capacity Utilization for October is predicted at 76.3%. Forex traders can compare this to Capacity Utilization for September which was reported at 76.0%.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for October is predicted at 67. Forex traders can compare this to the US NAHB Housing Market Index for September which was reported at 68.
Should price action for the AUDUSD remain inside the or breakout above the 0.7560 to 0.7600 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7585
- Take Profit Zone: 0.7860 – 0.7895
- Stop Loss Level: 0.7520
Should price action for the AUDUSD breakdown below 0.7560 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7540
- Take Profit Zone: 0.7400 – 0.7420
- Stop Loss Level: 0.7585
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
