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 2.1% annualized. Forex traders can compare this to the UK CPI for January which decreased by 0.5% monthly and which increased by 1.8% annualized. The Core CPI for February is predicted to increase by 1.7% annualized. Forex traders can compare this to Core CPI for January which increased by 1.6% annualized.
- UK PPI: The UK PPI Input for February is predicted to increase by 0.1% monthly and by 20.1% annualized. Forex traders can compare this to the UK PPI Input for January which increased by 1.7% monthly and by 20.5% annualized. The UK PPI Output for February is predicted to increase by 0.3% monthly and by 3.7% annualized. Forex traders can compare this to the UK PPI Output for January which increased by 0.6% monthly and by 3.5% annualized. The UK PPI Core Output for February is predicted to increase by 0.2% monthly and by 2.5% annualized. Forex traders can compare this to the UK PPI Core Output for January which increased by 0.5% monthly and by 2.4% annualized.
- UK RPI: The UK RPI for February is predicted to increase by 0.8% monthly and by 2.9% annualized. Forex traders can compare this to the UK RPI for January which decreased by 0.6% monthly and which increased by 2.6% annualized. The UK RPI Excluding Mortgage Interest Payments for February is predicted to increase by 3.1% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for January which increased by 2.9% annualized.
- UK House Price Index: The UK House Price Index for January is predicted to increase by 6.3% annualized. Forex traders can compare this to the UK House Price Index for December which increased by 7.2% annualized.
- UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for February is predicted at £2.8B and UK Public Sector Net Borrowing excluding Banking Groups at £3.1B. Forex traders can compare this to UK Public Sector Net Borrowing for January which was reported at -£9.8B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at -£9.4B.
- UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Trends Total Orders for March are predicted at 5 and CBI Trends Selling Prices are predicted at 32. Forex traders can compare this to CBI Trends Total Orders for February which were reported at 8 and to CBI Trends Selling Prices which were reported at 32.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Trade Balance: The Swiss Trade Balance for February was reported at CHF3.11B. Forex traders can compare this to the Swiss Trade Balance for January which was reported at CHF4.83B. Exports for February decreased by 2.2% monthly and Imports increased by 2.9% monthly. Forex traders can compare this to Exports for January which decreased by 3.6% monthly and to Imports which decreased by 3.9% monthly.
Should price action for the GBPCHF remain inside the or breakout above the 1.2325 to 1.2375 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2350
- Take Profit Zone: 1.2800 – 1.2900
- Stop Loss Level: 1.2200
Should price action for the GBPCHF breakdown below 1.2325 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2275
- Take Profit Zone: 1.2100 – 1.2200
- Stop Loss Level: 1.2375
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
