Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for October increased by 4.3% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for September which increased by 3.8% annualized.
- Australian Home Loans and Investment Lending: Australian Home Loans for August increased by 1.0% monthly. Economists predicted an increase of 0.5% monthly. Forex traders can compare this to Australian Home Loans for July which increased by 2.8% monthly. Australian Investment Lending for August increased by 4.3% monthly and the Value of Loans increased by 0.9% monthly. Forex traders can compare this to Australian Investment Lending for July which decreased by 3.7% monthly and to the Value of Loans which increased by 1.3% monthly.
- Australian Credit Card Purchases and Australian Credit Card Balances: Australian Credit Card Purchases for August were reported at A$26.9B and Australian Credit Card Balances at A$51.3B. Forex traders can compare this to Australian Credit Card Purchases for July which were reported at A$25.6B and to Australian Credit Card Balances which were reported at A$51.3B.
Here are the key factors to keep in mind today for US Dollar trades:
- US PPI: The US PPI for September is predicted to increase by 0.4% monthly and by 2.6% annualized. Forex traders can compare this to the US PPI for August which increased by 0.2% monthly and by 2.4% annualized. The US Core PPI for September is predicted to increase by 0.2% monthly and by 2.0% annualized. Forex traders can compare this to the US Core PPI for August which increased by 0.1% monthly and by 2.0% annualized. The US Core PPI ex Trade for September is predicted to increase by 0.2% monthly and by 1.9% annualized. Forex traders can compare this to the US Core PPI ex Trade for August which increased by 0.2% monthly and by 1.9% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of October 7th are predicted at 253K and US Continuing Claims for the week of September 30th are predicted at 1,935K. Forex traders can compare this to US Initial Jobless Claims for the week of September 30th which were reported at 260K and to US Continuing Claims for the week of September 23rd which were reported at 1,938K.
Should price action for the AUDUSD remain inside the or breakdown below the 0.7810 to 0.7850 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7830
- Take Profit Zone: 0.7600 – 0.7640
- Stop Loss Level: 0.7870
Should price action for the AUDUSD breakout above 0.7850 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7890
- Take Profit Zone: 0.8080 – 0.8120
- Stop Loss Level: 0.7830
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
