Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for March is predicted at -$73.0B. Forex traders can compare this to the US Advanced Goods Trade Balance for February which was reported at -$70.9B.
- US Wholesale Inventories: US Preliminary Wholesale Inventories for March are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Inventories for February which increased by 0.2% monthly.
- US NFP Report: The US NFP Report for April is predicted to show 190K job additions and an unemployment rate of 3.8%. Forex traders can compare this to the US NFP Report for March which showed 196K job additions and an unemployment rate of 3.8%. Private Payrolls for April are predicted to show 185K job additions and Manufacturing Payrolls 10K job additions. Forex traders can compare this to Private Payrolls for March which showed 182K job additions and Manufacturing Payrolls which showed 6K job losses. The Average Work Week for April is predicted at 34.5 hours. Forex traders can compare this to the Average Work Week for March which was reported at 34.5 hours. Average Hourly Earnings for April are predicted to increase by 0.3% monthly and by 3.3% annualized. Forex traders can compare this to Average Hourly Earnings for March which increased by 0.1% monthly and by 3.3% annualized. The Labor Force Participation Rate for April is predicted at 63.0%. Forex traders can compare this to the Labor Force Participation Rate for March which was reported at 63.0%.
- US Markit Services PMI and Markit Composite PMI: The US Final Markit Services PMI for April is predicted at 52.9 and the US Final Markit Composite PMI is predicted at 52.8. Forex traders can compare this to the previous US Markit Services PMI for April which was reported at 52.9 and to the previous US Markit Composite PMI which was reported at 52.8.
- US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for April is predicted at 57.2. Forex traders can compare this to the US ISM Non-Manufacturing PMI for March which was reported at 56.1. The ISM Non-Manufacturing Business Activity Index for April is predicted at 58.8. Forex traders can compare this to the ISM Non-Manufacturing Business Activity Index for March which was reported at 57.4.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss SECO Consumer Confidence: Swiss SECO Consumer Confidence for April was reported at -6. Economists predicted a figure of -3. Forex traders can compare this to Swiss SECO Consumer Confidence for March which was reported at -4.
- Swiss CPI: The Swiss CPI for April increased by 0.2% monthly and by 0.7% annualized. Economists predicted an increase of 0.2% monthly and of 0.7% annualized. Forex traders can compare this to the Swiss CPI for March which increased by 0.5% monthly and by 0.7% annualized. The Swiss Core CPI for April increased by 0.5% annualized. Economists predicted an increase of 0.5%. Forex traders can compare this this to the Swiss Core CPI for March which increased by 0.5% annualized. The Swiss EU Harmonized CPI for April increased by 0.6% monthly and by 1.1% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for March which increased by 0.3% monthly and by 0.7% annualized.
Should price action for the USDCHF remain inside the or breakdown below the 1.0185 to 1.0215 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0200
- Take Profit Zone: 0.9895 – 0.9915
- Stop Loss Level: 1.0290
Should price action for the USDCHF breakout above 1.0215 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0235
- Take Profit Zone: 1.0290 – 1.0345
- Stop Loss Level: 1.0215
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