Here are the key factors to keep in mind today for US Dollar trades:
- US Import and Export Price Index: The US Import Price Index for November is predicted to decrease by 1.0% monthly and to increase by 1.3% annualized. Forex traders can compare this to the US Import Price Index for October which increased by 0.5% monthly and by 3.5% annualized. The US Import Price Index excluding Petroleum for November is predicted flat at 0.0% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for October which increased by 0.2% monthly. The US Export Price Index for November is predicted to decrease by 0.4% monthly and to increase by 2.7% annualized. Forex traders can compare this to the US Export Price Index for October which increased by 0.4% monthly and by 3.1% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of December 8th are predicted at 225K and US Continuing Claims for the week of December 1st are predicted at 1,650K. Forex traders can compare this to US Initial Jobless Claims for the week of December 1st which were reported at 231K and to US Continuing Claims for the week of November 24th which were reported at 1,631K.
- US Monthly Budget Statement: The US Monthly Budget Statement for November is predicted at -$197.0B. Forex traders can compare this to the US Monthly Budget Statement for October which was reported at -$100.5B.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Producer & Import Prices: Swiss Producer & Import Prices for November decreased by 0.3% monthly and increased by 1.4% annualized. Economists predicted an increase of 0.1% monthly of 1.7% annualized. Forex traders can compare this to Swiss Producer & Import Prices for October which increased by 0.2% monthly and by 2.3% annualized.
- Swiss National Bank Sight Deposit Interest Rate: The Swiss National Bank Sight Deposit Interest Rate was reported at -0.75%. Economists predicted a reading of -0.75%. Forex traders can compare this to the previous Swiss National Bank Sight Deposit Interest Rate which was reported at -0.75%. The SNB 3-Month Libor Lower Target Range was reported at -1.25% and the SNB 3-Month Libor Upper Target Range was reported at -0.25%. Economists predicted a figure of -1.25% and of -0.25%. Forex traders can compare this to the previous NB 3-Month Libor Lower Target Range of -1.25% and to the SNB 3-Month Libor Upper Target Range of -0.25%.
Should price action for the USDCHF remain inside the or breakdown below the 0.9910 to 0.9965 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9920
- Take Profit Zone: 0.9540 – 0.9600
- Stop Loss Level: 1.0010
Should price action for the USDCHF breakout above 0.9965 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9990
- Take Profit Zone: 1.0085 – 1.0025
- Stop Loss Level: 0.9920
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