The Australian Westpac Leading Index for March decreased by 0.84% monthly. Forex traders can compare this to the Australian Westpac Leading Index for February, which decreased by 0.39%. Australian Skilled Vacancies for March decreased by 5.3% monthly. Forex traders can compare this to Australian Skilled Vacancies for February, which decreased by 4.5% monthly.

The UK CPI for March is predicted flat at 0.0% monthly, and to increase by 1.5% annualized. Forex traders can compare this to the UK CPI for February, which increased by 0.4% monthly 1.7% annualized. The Core CPI for March is predicted to increase by 1.6% annualized and the CPI Including Housing Costs is predicted to increase by 1.6% annualized. Forex traders can compare this to Core CPI for February, which increased by 1.7% annualized and to the CPI Including Housing Costs, which increased by 1.7% annualized.

The UK PPI Input for March is predicted to decrease by 3.5% monthly and by 3.2% annualized. Forex traders can compare this to the UK PPI Input for February, which decreased by 1.2% monthly and by 0.5% annualized. The UK PPI Output for March is predicted to decrease by 0.3% monthly, and to increase by 0.1% annualized. Forex traders can compare this to the UK PPI Output for February, which decreased by 0.3% monthly, and which increased by 0.4% annualized. The UK PPI Core Output for March is predicted to flat at 0.0% monthly, and to increase by 0.5% annualized. Forex traders can compare this to the UK PPI Core Output for February, which decreased by 0.1% monthly, and which increased by 0.4% annualized.

The UK RPI for March is predicted to decrease by 0.2% monthly and to increase by 2.2% annualized. Forex traders can compare this to the UK RPI for February, which increased by 0.5% monthly and 2.5% annualized. The UK RPI Excluding Mortgage Interest Payments for March is predicted to increase by 2.4% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for February, which increased by 2.5% annualized. The UK House Price Index for February is predicted to increase by 1.6% annualized. Forex traders can compare this to the UK House Price Index for January, which increased by 1.3% annualized.

The GBP/AUD forecast remains bullish with yesterday’s UK employment data surprising to the upside. It stabilized this currency pair following the breakdown below the Senkou Span A and B. The general bullish uptrend is intact, and bulls are expected to resume its advance. How will today’s inflation data out of the UK impact price action? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for the GBP/AUD remain inside the or breakout above the 1.9400 to 1.9585 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.9490
• Take Profit Zone: 2.0595– 2.0850
• Stop Loss Level: 1.9340

Should price action for the GBP/AUD breakdown below 1.9400 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.9340
• Take Profit Zone: 1.8900 – 1.9090
• Stop Loss Level: 1.9490

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