Here are the key factors to keep in mind today for Euro trades:
- French Consumer Spending: French Consumer Spending for April increased by 0.8% monthly. Economists predicted an increase of 0.5%. Forex traders can compare this to French Consumer Spending for March which decreased by 0.3% monthly.
- French CPI: The French CPI for April increased by 0.2% monthly and by 1.0% annualized. Economists predicted an increase of 0.3% monthly and of 1.3% annualized. Forex traders can compare this to the French CPI for March which increased by 0.3% monthly and by 1.3% annualized. The French Harmonized CPI for April increased by 0.2% monthly and by 1.1% annualized. Economists predicted an increase of 0.3% monthly and of 1.2% annualized. Forex traders can compare this to the French Harmonized CPI for March which increased by 0.4% monthly and by 1.5% annualized.
- French PPI: The French CPI for April decreased by 0.6% monthly. Forex traders can compare this to the French CPI for March which was reported flat at 0.0% monthly.
- French GDP: The Final French GDP for the first-quarter increased by 0.3% quarterly and by 1.2% annualized. Economists predicted an increase of 0.3% quarterly and of 1.1% annualized. Forex traders can compare this to the previous French GDP for the first-quarter which increased by 0.3% quarterly and by 1.1% annualized.
- German Unemployment Change and German Unemployment Rate: The German Unemployment Change for May is predicted at -8K and the German Unemployment Rate at 4.9%. Forex traders can compare this to the German Unemployment Change for April which was reported at -12K and to the German Unemployment Rate which was reported at 4.9%.
- Italian Confidence Data: Italian Business Confidence for May is predicted at 100.4 and Italian Consumer Confidence is predicted at 110.0. Forex traders can compare this to Italian Business Confidence for April which was reported at 100.6 and to Italian Consumer Confidence which was reported at 110.5.
Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand ANZ Activity Outlook and ANZ Business Confidence: The New Zealand ANZ Activity Outlook for May was reported at 8.5 and ANZ Business Confidence was reported at -32.0. Forex traders can compare this to the New Zealand ANZ Activity Outlook for April which was reported at 7.1 and to ANZ Business Confidence which was reported at -37.5.
Should price action for the EURNZD remain inside the or breakdown below the 1.7030 to 1.7100 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.7070
- Take Profit Zone: 1.6690 – 1.6785
- Stop Loss Level: 1.7160
Should price action for the EURNZD breakout above 1.7100 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.7135
- Take Profit Zone: 1.7265 – 1.7355
- Stop Loss Level: 1.7070
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