Here are the key factors to keep in mind today for British Pound trades:
- UK GfK Consumer Confidence Survey: The UK GfK Consumer Confidence Survey for September was reported at -9. Economists predicted a figure of -11. Forex traders can compare this to the UK GfK Consumer Confidence Survey for August which was reported at -10.
- UK Lloyds Business Barometer: The UK Lloyds Business Barometer for September was reported at 23. Forex traders can compare this to the UK Lloyds Business Barometer for August which was reported at 17.
- UK Nationwide House Prices: UK Nationwide House Prices for September increased by 0.2% monthly and by 2.0% annualized. Economists predicted an increase of 0.1% monthly and an of 1.9% annualized. Forex traders can compare this to UK Nationwide House Prices for August which decreased by 0.1% monthly and which increased by 2.1% annualized.
- UK Current Account: The UK Current Account for the second-quarter was reported at -£23.2B. Economists predicted a figure of -£15.9B. Forex traders can compare this to the UK Current Account for the first-quarter which was reported at -£22.3B.
- UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for August was reported at £1.6B and Net Lending Securities on Dwellings was reported at £.0B. Economists predicted a figure of £1.4B and of £3.6B. Forex traders can compare this to UK Net Consumer Credit for July which was reported at £1.2B and to Net Lending Securities on Dwellings which was reported at £3.6B.
- UK Mortgage Approvals: UK Mortgage Approvals for August were reported at 66.60K. Economists predicted a figure of 67.00K. Forex traders can compare this to UK Mortgage Approvals for July which were reported at 68.40K.
- UK GDP and UK Total Business Investment: The final UK GDP for the second-quarter increased by 0.3% quarterly and by 1.5% annualized. Economists predicted an increase of 0.3% quarterly and of 1.7% annualized. Forex traders can compare this to the previous UK GDP for the second-quarter which increased by 0.3% quarterly and by 1.7% annualized. Final UK Total Business Investment for the second-quarter increased by 0.5% quarterly and by 2.5% annualized. Economists predicted a flat reading of 0.0% quarterly and of 0.0% annualized. Forex traders can compare this to the previous UK Total Business Investment for the second-quarter which was reported flat at 0.0% quarterly and at 0.0% annualized.
- UK Index of Services: UK Index of Services for July decreased by 0.2% monthly and increased by 0.5% for the three-month-over-three-month period ending in July. Economists predicted an increase of 0.1% monthly and of 0.7% tri-monthly. Forex traders can compare this to the UK Index of Services for June which increased by 0.3% monthly by 0.4% for the three-month-over-three-month period ending in June.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for August was reported at 2.8% and the Job-to-Applicant Ratio at 1.52. Economists predicted a figure of 2.8% and 1.53. Forex traders can compare this to the Japanese Jobless Rate for July which was reported at 2.8% and to the Job-to-Applicant Ratio which was reported at 1.52.
- Japanese Household Spending: Japanese Household Spending for August increased by 0.6% annualized. Economists predicted an increase of 0.9% annualized. Forex traders can compare this to Japanese Household Spending for July which decreased by 0.2% annualized.
- Japanese National CPI: The Japanese National CPI for August increased by 0.7% annualized. Economists predicted an increase of 0.6% annualized. Forex traders can compare this to the Japanese National CPI for July which increased by 0.4% annualized. The Japanese National Core CPI for August increased by 0.2% annualized. Economists predicted an increase of 0.2% annualized. Forex traders can compare this to the Japanese National Core CPI for July which increased by 0.2% annualized. The Japanese National CPI Excluding Fresh Food for August increased by 0.7% annualized. Economists predicted an increase of 0.7% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for July which increased by 0.5% annualized.
- Japanese Retail Trade Data: Japanese Retail Trade for August decreased by 1.7% monthly and increased by 1.7% annualized. Economists predicted a decrease of 0.5% and an increase of 2.4%. Forex traders can compare this to Japanese Retail Trade for July which increased by 1.1% monthly and by 1.8% annualized. Large Retailer’s Sales for August increased by 0.6% monthly. Economists predicted an increase of 0.3% monthly. Forex traders can compare this to Large Retailer’s Sales for July which decreased by 0.2% monthly.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for August increased by 2.1% monthly and by 5.4% annualized. Economists predicted an increase of 1.8% monthly and of 5.2% annualized. Forex traders can compare this to Japanese Industrial Production for July which decreased by 0.8% monthly and which increased by 4.7% annualized.
- Japanese Vehicle Production: Japanese Vehicle Production for August increased by 5.6% annualized. Forex traders can compare this to Japanese Vehicle Production for July which increased by 1.4% annualized.
- Japanese Housing Starts and Construction Orders: Japanese Housing Starts for August decreased by 2.0% annualized to 0.942M units. Economists predicted an increase of 0.6% annualized to 0.968M units. Forex traders can compare this to Japanese Housing Starts for July which decreased by 2.3% annualized to 0.974M units. Construction Orders for August decreased by 10.6% annualized. Forex traders can compare this to Construction Orders for July which increased by 14.9% annualized.
Should price action for the GBPJPY remain inside the or breakout above the 150.250 to 150.750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 150.500
- Take Profit Zone: 153.300 – 153.600
- Stop Loss Level: 149.000
Should price action for the GBPJPY breakdown below 150.250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 149.750
- Take Profit Zone: 147.500 – 148.000
- Stop Loss Level: 150.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
