Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for September where reported at 3.3%. Forex traders can compare this to Australian Consumer Inflation Expectations for August which were reported at 3.5%.
- Australian Employment Report: The Australian Employment Change for August was reported at -3.9K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for July which was reported at 25.3K. The Unemployment Rate for August was reported at 5.6%. Economists predicted a reading of 5.7%. Forex traders can compare this to the Unemployment Rate for July which was reported at 5.7%. 11.5K Full-Time Positions were created in August and 15.4K Part-Time Positions were lost. Forex traders can compare this to the loss of 46.1K Full-Time Positions and the creation of 69.6K Part-Time Positions which were created in July. The Labor Force Participation Rate for August was reported at 64.7%. Economists predicted a reading of 64.9%. Forex traders can compare this to the Labor Force Participation Rate for July which was reported at 64.9%.
- Australian Motor Vehicle Sales: Australian Motor Vehicle Sales for August increased by 0.1% monthly and by 2.9% annualized. Forex traders can compare this to Australian Motor Vehicle Sales for July which decreased by 1.4% monthly and which increased by 1.3% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Retail Sales: US Advanced Retail Sales for August are predicted to decrease by 0.1% monthly and Retail Sales Less Autos are predicted to increase by 0.2% monthly. Forex traders can compare this to US Advanced Retail Sales for July which were flat at 0.0% monthly and to Retail Sales Less Autos which decreased by 0.3% monthly. Retail Sales Less Autos and Gas for August are predicted to increase by 0.3% 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 July which decreased by 0.1% monthly and to Retail Sales Control Group which were flat at 0.0% monthly.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of September 10th are predicted at 265K and US Continuing Claims for the week of September 3rd are predicted at 2,150K. Forex traders can compare this to US Initial Jobless Claims for the week of September 3rd which were reported at 259K and US Continuing Claims for the week of August 27th which were reported at 2,144K.
- US Industrial Production and Manufacturing Production: US Industrial Production for August is predicted to decrease by 0.2% monthly and US Manufacturing Production by 0.3% monthly. Forex traders can compare this to US Industrial Production for July which increased by 0.7% monthly and US Manufacturing Production which increased by 0.5% monthly. Capacity Utilization for August is predicted at 75.7%. Forex traders can compare this to Capacity Utilization for July which was reported at 75.9%.
- US Business Inventories: US Business Inventories for July are predicted to increase by 0.1% monthly. Forex traders can compare this to US Business Inventories for June which increased by 0.2% monthly.
Should price action for the AUDUSD remain inside the or breakout above the 0.7425 to 0.7450 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7450
- Take Profit Zone: 0.7775 – 0.7825
- Stop Loss Level: 0.7350
Should price action for the AUDUSD breakdown below 0.7350 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7325
- Take Profit Zone: 0.7150 – 0.7200
- Stop Loss Level: 0.7425
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
