Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for February is predicted to increase by 0.5% monthly and by 2.8% annualized. Forex traders can compare this to the UK CPI for January which decreased by 0.5% monthly and which increased by 3.0% annualized. The Core CPI for February is predicted to increase by 2.5% annualized. Forex traders can compare this to Core CPI for January which increased by 2.7% annualized.
- UK PPI: The UK PPI Input for February is predicted to decrease by 0.9% monthly and to increase by 3.8% annualized. Forex traders can compare this to the UK PPI Input for January which increased by 0.7% monthly and by 4.7% annualized. The UK PPI Output for February is predicted to increase by 0.1% monthly and by 2.7% annualized. Forex traders can compare this to the UK PPI Output for January which increased by 0.1% monthly and by 2.8% annualized. The UK PPI Core Output for February is predicted to increase by 0.2% monthly and by 2.4% annualized. Forex traders can compare this to the UK PPI Core Output for January which increased by 0.3% monthly and by 2.2% annualized.
- UK RPI: The UK RPI for February is predicted to increase by 0.8% monthly and by 3.7% annualized. Forex traders can compare this to the UK RPI for January which decreased by 0.8% monthly and which increased by 4.0% annualized. The UK RPI Excluding Mortgage Interest Payments for February is predicted to increase by 3.6% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for January which increased by 4.0% annualized.
- UK House Price Index: The UK House Price Index for January is predicted to increase by 5.0% annualized. Forex traders can compare this to the UK House Price Index for December which increased by 5.2% annualized.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 18th was reported at 118.5. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of March 11th which was reported at 116.0.
- Australian House Price Index: The Australian House Price Index for the fourth-quarter increased by 1.0% quarterly and by 5.0% annualized. Economists predicted a flat reading of 0.0% quarterly and an increase of 3.9% annualized. Forex traders can compare this to the Australian House Price Index for the third-quarter which decreased by 0.2% quarterly and which increased by 8.3% annualized.
Should price action for the GBPAUD remain inside the or breakout above the 1.8200 to 1.8300 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.8250
- Take Profit Zone: 1.8610 – 1.8750
- Stop Loss Level: 1.8055
Should price action for the GBPAUD breakdown below 1.8200 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.8180
- Take Profit Zone: 1.8000 – 1.8070
- Stop Loss Level: 1.8250
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