Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand ANZ Consumer Confidence: New Zealand ANZ Consumer Confidence for April increased by 1.1% monthly to 123.2. Forex traders can compare this to New Zealand ANZ Consumer Confidence for March which increased by 0.8% monthly to 121.8.
- New Zealand Trade Balance: The New Zealand Trade Balance for March was reported at NZ$922M monthly and at -NZ$5,616M 12-month year-to-date. Economists predicted a figure of NZ$131M and of -NZ$6,339M. Forex traders can compare this to the New Zealand Trade Balance for February which was reported at NZ$12M monthly and at -NZ$6,621M 12-month year-to-date. Exports for March were reported at NZ$5.70B and Imports were reported at NZ$4.77B. Economists predicted a figure of NZ$5.30B and of NZ$5.15B. Forex traders can compare this to Exports for February which were reported at NZ$4.82B and to Imports which were reported at NZ$4.80B.
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 March was reported at 2.5% and the Job-to-Applicant Ratio at 1.63. Economists predicted a figure of 2.4% and of 1.63. Forex traders can compare this to the Japanese Jobless Rate for February which was reported at 2.3% and to the Job-to-Applicant Ratio which was reported at 1.63.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for March decreased by 0.9% monthly and by 4.6% annualized. Economists predicted a flat reading of 0.0% monthly and a decrease of 3.8% annualized. Forex traders can compare this to Japanese Industrial Production for February which increased by 0.7% monthly and which decreased by 1.1% annualized.
- Japanese Retail Trade Data: Japanese Retail Trade for March increased by 0.2% monthly and by 1.0% annualized. Economists predicted a flat reading of 0.0% and an increase of 0.8%. Forex traders can compare this to Japanese Retail Trade for February which increased by 0.4% monthly and by 0.6% annualized. Large Retailer’s Sales for March increased by 0.6% monthly. Economists predicted a decrease of 1.0% monthly. Forex traders can compare this to Large Retailer’s Sales for February which decreased by 1.8% monthly.
- Japanese Vehicle Production: Japanese Vehicle Production for February increased by 0.9% annualized. Forex traders can compare this to Japanese Vehicle Production for January which increased by 7.0% annualized.
- Japanese Housing Starts and Construction Orders: Japanese Housing Starts for March increased by 10.0% annualized to 0.989M units. Economists predicted an increase of 5.5% annualized to 0.951M units. Forex traders can compare this to Japanese Housing Starts for February which increased by 4.2% annualized to 0.967M units. Construction Orders for March were reported flat at 0.0% annualized. Forex traders can compare this to Construction Orders for February which decreased by 3.4% annualized.
Should price action for the NZDJPY remain inside the or breakout above the 73.900 to 74.400 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 74.200
- Take Profit Zone: 75.950 – 76.750
- Stop Loss Level: 73.600
Should price action for the NZDJPY breakdown below 73.900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 73.400
- Take Profit Zone: 71.800 – 72.500
- Stop Loss Level: 73.900
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