Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for September increased by 3.8% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for August which increased by 4.2% annualized.
- Australian Employment Report: The Australian Employment Change for August was reported at 54.2K. Economists predicted a figure of 20.0K. Forex traders can compare this to the Australian Employment Change for July which was reported at 29.3K. The Unemployment Rate for August was reported at 5.6%. Economists predicted a reading of 5.6%. Forex traders can compare this to the Unemployment Rate for July which was reported at 5.6%. 40.1K Full-Time Positions were created in August and 14.1K Part-Time Positions were created. Forex traders can compare this to the loss of 19.9K Full-Time Positions and the creation of 49.1K Part-Time Positions which were reported in July. The Labor Force Participation Rate for August was reported at 65.3%. Economists predicted a reading of 65.1%. Forex traders can compare this to the Labor Force Participation Rate for July which was reported at 65.1%.
- Chinese Industrial Production: Chinese Industrial Production for August increased by 6.0% annualized. Economists predicted an increase of 6.6% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 6.4% annualized.
- Chinese Retail Sales: Chinese Retail Sales for August increased by 10.1% annualized. Economists predicted an increase of 10.5% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 10.4% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 7.8% annualized. Economists predicted an increase of 8.2% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 8.3% annualized.
- Chinese Foreign Direct Investment: Chinese Foreign Direct Investment for August increased by 9.1% annualized. Forex traders can compare this to Chinese Foreign Direct Investment for July which increased by 2.3% annualized.
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 September 9th are predicted at 300K and US Continuing Claims for the week of September 2nd are predicted at 1,965K. Forex traders can compare this to US Initial Jobless Claims for the week of September 2nd which were reported at 298K and US Continuing Claims for the week of August 25th which were reported at 1,940K.
- US CPI: The US CPI for August is predicted to increase by 0.3% monthly and by 1.8% annualized. Forex traders can compare this to the US CPI for July which increased by 0.1% monthly and by 1.7% annualized. The US Core CPI for August is predicted to increase by 0.2% monthly and by 1.6% annualized. Forex traders can compare this to the US Core PPI for July which increased by 0.1% monthly and by 1.7% annualized.
Should price action for the AUDUSD remain inside the or breakout above the 0.7985 to 0.8015 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8000
- Take Profit Zone: 0.8440 – 0.8480
- Stop Loss Level: 0.7885
Should price action for the AUDUSD breakdown below 0.7985 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7950
- Take Profit Zone: 0.7885 – 0.7900
- Stop Loss Level: 0.8000
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
