Here are the key factors to keep in mind today for Euro trades:
- French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for December was reported at 53.5. Economists predicted a figure of 51.8. Forex traders can compare this to the French Markit Manufacturing PMI for for November which was reported at 51.7. The Preliminary French Markit Services PMI for December was reported at 52.6. Economists predicted a figure of 51.9. Forex traders can compare this to the French Markit Services PMI for for November which was reported at 51.6. The Preliminary French Markit Composite PMI for November was reported at 52.8. Economists predicted a figure of 51.6. Forex traders can compare this to the French Markit Composite PMI for for November which was reported at 51.4.
- German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for December was reported at 55.5. Economists predicted a figure of 54.5. Forex traders can compare this to the German Markit Manufacturing PMI for for November which was reported at 54.3. The Preliminary German Markit Services PMI for December was reported at 53.8. Economists predicted a figure of 54.9. Forex traders can compare this to the German Markit Services PMI for for November which was reported at 55.1. The Preliminary German Markit Composite PMI for December was reported at 54.8. Economists predicted a figure of 54.9. Forex traders can compare this to the German Markit Composite PMI for for November which was reported at 55.0.
- Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for December was reported at 54.9. Economists predicted a figure of 53.7. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for November which was reported at 53.7. The Preliminary Eurozone Markit Services PMI for December was reported at 53.1. Economists predicted a figure of 53.8. Forex traders can compare this to the Eurozone Markit Services PMI for for November which was reported at 53.8. The Preliminary Eurozone Markit Composite PMI for December was reported at 53.9. Economists predicted a figure of 53.9. Forex traders can compare this to the Eurozone Markit Composite PMI for for November which was reported at 53.9.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Consumer Inflation Expectation: Australian Consumer Inflation Expectation for December increased by 3.4% annualized. Forex traders can compare this to Australian Consumer Inflation Expectation for November which increased by 3.2% annualized.
- Australian Employment Report: The Australian Employment Change for November was reported at 39.1K. Economists predicted a figure of 17.5K. Forex traders can compare this to the Australian Employment Change for October which was reported at 15.2K. The Unemployment Rate for November was reported at 5.7%. Economists predicted a reading of 5.6%. Forex traders can compare this to the Unemployment Rate for October which was reported at 5.6%. 39.3K Full-Time Positions were created in November and 0.2K Part-Time Positions were lost. Forex traders can compare this to the creation of 45.7K Full-Time Positions and the loss of 30.5K Part-Time Positions in October. The Labor Force Participation Rate for November was reported at 64.6%. Economists predicted a reading of 64.5%. Forex traders can compare this to the Labor Force Participation Rate for October which was reported at 64.4%.
Should price action for the EURAUD remain inside the or breakout above the 1.4100 to 1.4150 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.4125
- Take Profit Zone: 1.4700 – 1.4750
- Stop Loss Level: 1.4000
Should price action for the EURAUD breakdown below 1.4100 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4050
- Take Profit Zone: 1.3800 – 1.3850
- Stop Loss Level: 1.4150
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