Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for October is predicted to increase by 0.1% monthly and by 2.5% annualized. Forex traders can compare this to the UK CPI for September which increased by 0.1% monthly and by 2.4% annualized. The Core CPI for October is predicted to increase by 1.9% annualized and the CPI Including Housing Costs is predicted to increase by 2.3% annualized. Forex traders can compare this to Core CPI for September which increased by 1.9% annualized and to the CPI Including Housing Costs which increased by 2.2% annualized.
- UK PPI: The UK PPI Input for October is predicted to increase by 0.6% monthly and by 9.6% annualized. Forex traders can compare this to the UK PPI Input for September which increased by 1.3% monthly and by 10.3% annualized. The UK PPI Output for October is predicted to increase by 0.2% monthly and by 3.1% annualized. Forex traders can compare this to the UK PPI Output for September which increased by 0.4% monthly and by 3.1% annualized. The UK PPI Core Output for October 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 September which increased by 0.1% monthly and by 2.4% annualized.
- UK RPI: The UK RPI for October is predicted to increase by 0.2% monthly and by 3.4% annualized. Forex traders can compare this to the UK RPI for September which was reported flat at 0.0% monthly and which increased by 3.3% annualized. The UK RPI Excluding Mortgage Interest Payments for October is predicted to increase by 3.3% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for September which increased by 3.3% annualized.
- UK House Price Index: The UK House Price Index for September is predicted to increase by 3.2% annualized. Forex traders can compare this to the UK House Price Index for October which increased by 3.2% annualized.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Westpac Consumer Confidence: Australian Westpac Consumer Confidence for November increased by 2.8% monthly to 104.3. Forex traders can compare this to Australian Westpac Consumer Confidence for October which increased by 1.0% to 101.5.
- Australian Wage Price Index: The Australian Wage Price Index for the third-quarter increased by 0.6% quarterly and by 2.3% annualized. Economists predicted an increase of 0.6% quarterly and of 2.3% annualized. Forex traders can compare this to the Australian Wage Price Index for the second-quarter which increased by 0.5% quarterly and by 2.1% annualized.
- Chinese Industrial Production: Chinese Industrial Production for October increased by 5.9% annualized. Economists predicted an increase of 5.8% annualized. Forex traders can compare this to Chinese Industrial Production for September which increased by 5.8% annualized.
- Chinese Retail Sales: Chinese Retail Sales for October increased by 8.6% annualized. Economists predicted an increase of 9.2% annualized. Forex traders can compare this to Chinese Retail Sales for September which increased by 9.2% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for October increased by 5.7% annualized. Economists predicted an increase of 5.5% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for September which increased by 5.4% annualized.
- Chinese Property Investment: Chinese Property Investment for October increased by 9.7% annualized. Forex traders can compare this to Chinese Property Investment for September which increased by 9.9% annualized.
- Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for October was reported at 4.9%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for September which was reported at 4.9%.
Should price action for the GBPAUD remain inside the or breakout above the 1.7900 to 1.8065 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.8000
- Take Profit Zone: 1.8615 – 1.8725
- Stop Loss Level: 1.7825
Should price action for the GBPAUD breakdown below 1.7900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.7860
- Take Profit Zone: 1.7410 – 1.7590
- Stop Loss Level: 1.7985
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
