Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for November is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the UK CPI for October which increased by 0.1% monthly and by 2.4% annualized. The Core CPI for November is predicted to increase by 1.8% annualized and the CPI Including Housing Costs is predicted to increase by 2.1% annualized. Forex traders can compare this to Core CPI for October 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 November is predicted to decrease by 2.8% monthly and to increase by 4.9% annualized. Forex traders can compare this to the UK PPI Input for October which increased by 0.8% monthly and by 10.0% annualized. The UK PPI Output for November is predicted to decrease by 0.1% monthly and to increase by 3.0% annualized. Forex traders can compare this to the UK PPI Output for October which increased by 0.3% monthly and by 3.3% annualized. The UK PPI Core Output for November is predicted to increase by 0.1% monthly and by 2.3% annualized. Forex traders can compare this to the UK PPI Core Output for October which increased by 0.3% monthly and by 2.4% annualized.
- UK RPI: The UK RPI for November is predicted to increase by 0.1% monthly and by 3.2% annualized. Forex traders can compare this to the UK RPI for October which increased by 0.1% monthly and by 3.3% annualized. The UK RPI Excluding Mortgage Interest Payments for November is predicted to increase by 3.1% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for October which increased by 3.2% annualized.
- UK House Price Index: The UK House Price Index for October is predicted to increase by 3.3% annualized. Forex traders can compare this to the UK House Price Index for September which increased by 3.5% annualized.
- UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Trends Total Orders for December are predicted at 6 and CBI Trends Selling Prices are predicted at 8. Forex traders can compare this to CBI Trends Total Orders for November which were reported at 10 and to CBI Trends Selling Prices which were reported at 9.
Here is the key factor to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for November was reported at -¥737.3B. Economists predicted a figure of -¥630.0B. Forex traders can compare this to the Japanese Trade Balance for October which was reported at -¥450.1B. The Japanese Adjusted Trade Balance for November was reported at -¥492.2B. Economists predicted a figure of -¥307.6B. Forex traders can compare this to the Japanese Adjusted Trade Balance for October which was reported at -¥302.7B. Exports for November increased by 0.1% annualized and Imports increased by 12.5% annualized. Economists predicted an increase of 1.1% and of 12.0%. Forex traders can compare this to Exports for October which increased by 8.2% annualized and to Imports which increased by 19.9% annualized.
Should price action for the GBPJPY remain inside the or breakout above the 141.950 to 142.650 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 142.250
- Take Profit Zone: 145.950 – 146.850
- Stop Loss Level: 141.200
Should price action for the GBPJPY breakdown below 141.950 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 141.500
- Take Profit Zone: 139.900 – 140.650
- Stop Loss Level: 141.950
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