Here are the key factors to keep in mind today for Euro trades:
- German Industrial Production: German German Industrial Production for April increased by 0.8% monthly and by 2.9% annualized. Economists predicted an increase of 0.5% monthly and of 2.1% annualized. Forex traders can compare this to German Industrial Production for March which decreased by 0.1% monthly and which increased by 2.2% annualized.
- Final Eurozone GDP: The Final Eurozone GDP for the first-quarter increased by 0.6% quarterly and by 1.9% annualized. Economists predicted an increase of 0.5% quarterly and of 1.7% annualized. Forex traders can compare this to the previous Eurozone GDP for the first-quarter which increased by 0.5% quarterly and by 1.7% annualized. Eurozone Gross Fixed Capital increased by 1.3% quarterly. Economists predicted an increase of 0.8% quarterly. Forex traders can compare this to Eurozone Gross Fixed Capital for the fourth-quarter which increased by 3.4% quarterly. Eurozone Government Expenditure increased by 0.4% quarterly. Economists predicted an increase of 0.4% quarterly. Forex traders can compare this to Eurozone Government Expenditure for the fourth-quarter which increased by 0.3% quarterly. Eurozone Household Consumption increased by 0.3% quarterly. Economists predicted an increase of 0.4% quarterly. Forex traders can compare this to Eurozone Household Consumption for the fourth-quarter which increased by 0.4% quarterly.
- ECB Rate Decision: The ECB kept its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this would equal no change in the ECB rate policy from the previous meeting. The Asset Purchase Target was reported at €60B, for no change from the €60B reported during the previous meeting.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Unemployment Rate: The Swiss Unemployment Rate for May was reported at 3.1% and the Seasonally Adjusted Unemployment Rate was reported at 3.2%. Economists predicted a rate of 3.1% and of 3.3%. Forex traders can compare this to the Swiss Unemployment Rate for April which was reported at 3.3% and the Seasonally Adjusted Unemployment Rate which was reported at 3.2%.
- Swiss CPI: The Swiss CPI for May increase by 0.2% monthly and by 0.5% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 0.3% annualized. Forex traders can compare this to the Swiss CPI for April which increased by 0.2% monthly and by 0.4% annualized. The Swiss EU Harmonized CPI for May decreased by 0.2% monthly and increased by 0.4% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for April which increased by 0.5% monthly and by 0.7% annualized.
Should price action for the EURCHF remain inside the or breakout above the 1.0825 to 1.0875 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0850
- Take Profit Zone: 1.0950– 1.1000
- Stop Loss Level: 1.0750
Should price action for the EURCHF breakdown below 1.0825 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0800
- Take Profit Zone: 1.0625– 1.0775
- Stop Loss Level: 1.0875
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