Here are the key factors to keep in mind today for Euro trades:
- German CPI: The Final German CPI for August was reported flat at 0.0% monthly and increased by 0.4% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 0.4% annualized. Forex traders can compare this to the previous German CPI for August which was reported flat at 0.0% monthly and which increased by 0.4% annualized.
- German Wholesale Price Index: The German Wholesale Price Index for August decreased by 0.7% monthly and by 1.2% annualized. Forex traders can compare this to the German Wholesale Price Index for July which increased by 0.2% monthly and which increased by 1.4% annualized.
- Eurozone Employment: Eurozone Employment for the second-quarter increased by 0.4% quarterly and by 1.4% annualized. Forex traders can compare this to Eurozone Employment for the first-quarter which increased by 0.4% quarterly and by 1.4% annualized.
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation for September was reported at 55.1 and the German ZEW Survey Economic Sentiment at 0.5. Economists predicted a figure of 56.0 and 2.5. Forex traders can compare this to the German ZEW Survey Current Situation for August which was reported at 57.6 and the German ZEW Survey Economic Sentiment which was reported at 0.5. The Eurozone ZEW Survey Economic Sentiment for September was reported at 5.4. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment for August which was reported at 4.6.
Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for August increased by 0.3% monthly and by 0.6% annualized. Economists predicted an increase of 0.4% monthly and of 0.7% annualized. Forex traders can compare this to the UK CPI for July which decreased by 0.1% monthly and which increased by 0.6% annualized. The Core CPI for August increased by 1.3% annualized. Economists predicted and increase of 1.4% annualized. Forex traders can compare this to Core CPI for July which increased by 1.3% annualized.
- UK PPI: The UK PPI Input for August increased by 0.2% monthly and by 7.6% annualized. Economists predicted an increase of 0.6% monthly and of 8.1% annualized. Forex traders can compare this to the UK PPI Input for July which increased by 3.1% monthly and by 4.1% annualized. The UK PPI Output for August increased by 0.1% monthly and by 0.8% annualized. Economists predicted an increase of 0.3% monthly and of 1.0% annualized. Forex traders can compare this to the UK PPI Output for July which increased by 0.3% monthly and by 0.3% annualized. The UK PPI Core Output for August increased by 0.2% monthly and by 1.3% annualized. Economists predicted an increase of 0.2% monthly and of 1.3% annualized. Forex traders can compare this to the UK PPI Core Output for July which increased by 0.4% monthly and by 1.0% annualized.
Should price action for the EURGBP remain inside the or breakdown below the 0.8450 to 0.8500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8475
- Take Profit Zone: 0.8050 – 0.8100
- Stop Loss Level: 0.8650
Should price action for the EURGBP breakout above 0.8500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8550
- Take Profit Zone: 0.8650 – 0.8725
- Stop Loss Level: 0.8500
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