Here is the key factor to keep in mind today for Euro trades:
- Final French GDP: The Preliminary French GDP for the third-quarter increased by 0.5% quarterly and by 2.2% annualized. Economists predicted an increase of 0.5% quarterly and by 2.1% annualized. Forex traders can compare this to the previous second-quarter GDP report which increased by 0.5% quarterly and by 1.8% annualized.
- Eurozone Unemployment Rate: The Eurozone Unemployment Rate for September is predicted at 9.0%. Forex traders can compare this to the Eurozone Unemployment Rate for August which was reported at 9.1%.
- Eurozone GDP: The advanced Eurozone GDP for the third-quarter is predicted to increase by 0.5% quarterly and by 2.3% annualized. Forex traders can compare this to the previous Eurozone GDP for the third-quarter which increased by 0.6% quarterly and by 2.3% annualized.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for October is predicted to increase by 1.5% annualized and the Eurozone Core CPI is predicted to increase by 1.1% annualized. Forex traders can compare this to the Eurozone CPI for September which increased by 1.5% annualized and to the Eurozone Core CPI which increased by 1.1% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for September was reported at 2.8% and the Job-to-Applicant Ratio at 1.52. Economists predicted a figure of 2.8% and 1.53. Forex traders can compare this to the Japanese Jobless Rate for August which was reported at 2.8% and to the Job-to-Applicant Ratio which was reported at 1.52.
- Japanese Household Spending: Japanese Household Spending for September decreased by 0.3% annualized. Economists predicted an increase of 0.6% annualized. Forex traders can compare this to Japanese Household Spending for August which increased by 0.6% annualized.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for September decreased by 1.1% monthly and increased by 2.5% annualized. Economists predicted a decrease of 1.5% monthly and an increase of 2.0% annualized. Forex traders can compare this to Japanese Industrial Production for August which increased by 2.0% monthly and by 5.3% annualized.
- Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
- Japanese Vehicle Production: Japanese Vehicle Production for September increased by 1.7% annualized. Forex traders can compare this to Japanese Vehicle Production for August which increased by 5.7% annualized.
- Japanese Housing Starts and Construction Orders: Japanese Housing Starts for September decreased by 2.9% annualized to 0.952M units. Economists predicted a decrease of 3.2% annualized to 0.950M units. Forex traders can compare this to Japanese Housing Starts for August which decreased by 2.0% annualized to 0.942M units. Construction Orders for September decreased by 11.6% annualized. Forex traders can compare this to Construction Orders for August which decreased by 10.6% annualized.
Should price action for the EURJPY remain inside the or breakout above the 131.400 to 131.800 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 131.600
- Take Profit Zone: 134.800 – 135.200
- Stop Loss Level: 130.400
Should price action for the EURJPY breakdown below 131.400 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 131.200
- Take Profit Zone: 129.400 – 129.800
- Stop Loss Level: 131.800
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