Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Skilled Vacancies: Australian Skilled Vacancies for September were reported flat at 0.0% monthly. Forex traders can compare this to Australian Skilled Vacancies for August which increased by 0.3% monthly.
- Australian CPI: The Australian CPI for the third-quarter of 2016 increased by 0.6% quarterly and by 1.8% annualized. Economists predicted an increase of 0.8% quarterly and of 2.0% annualized. Forex traders can compare this to the Australian CPI for the second-quarter of 2016 which increased by 0.2% quarterly and by 1.9% annualized. The RBA Trimmed Mean CPI for the third-quarter of 2016 increased by 0.3% quarterly and by 1.8% annualized. Economists predicted an increase of 0.5% quarterly and of 2.0% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the second-quarter of 2016 which increased by 0.6% quarterly and by 1.8% annualized. The RBA Weighted Median CPI for the third-quarter of 2016 increased by 0.3% quarterly and by 1.9% annualized. Economists predicted an increase of 0.5% quarterly and of 2.0% annualized. Forex traders can compare this to the RBA Weighted Median CPI for the second-quarter of 2016 which increased by 0.5% quarterly and by 1.9% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for September are predicted to increase by 1.0% monthly and Durables Excluding Transportation are predicted to increase by 2.0% monthly. Forex traders can compare this to US Durable Goods Orders for August which increased by 2.0% monthly and to Durables Excluding Transportation which increased by 0.5% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for September are predicted to increase by 0.2% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicated to increase by 0.2% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for August which increased by 1.1% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 1.1% monthly.
- US House Price Index: The US House Price Index for August is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Index for July which increased by 0.2% monthly.
- US New Home Sales: US New Home Sales for September are predicted to decrease by 0.9% monthly to 555K new homes. Forex traders can compare this to US New Home Sales for August which decreased by 3.4% monthly to 560K new homes.
Should price action for the AUDUSD remain inside the or breakout above the 0.7680 to 0.7720 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7700
- Take Profit Zone: 0.7880 – 0.7900
- Stop Loss Level: 0.7650
Should price action for the AUDUSD breakdown below 0.7680 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7650
- Take Profit Zone: 0.7570 – 0.7600
- Stop Loss Level: 0.7700
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
