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 February is predicted to increase by 0.3% monthly and to decrease by 1.6% annualized. Forex traders can compare this to the US Import Price Index for January which decreased by 0.5% monthly and by 1.7% annualized. The US Import Price Index excluding Petroleum for February is predicted to decrease by 0.2% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for January which decreased by 0.7% monthly. The US Export Price Index for February is predicted to increase by 0.1% monthly and by 0.2% annualized. Forex traders can compare this to the US Export Price Index for January which decreased by 0.6% monthly and by 0.2% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of March 9th are predicted at 225K and US Continuing Claims for the week of March 2nd are predicted at 1,775K. Forex traders can compare this to US Initial Jobless Claims for the week of March 2nd which were reported at 223K and to US Continuing Claims for the week of February 23rd which were reported at 1,755K.
- US New Home Sales: US New Home Sales for January are predicted to increase by 0.3% monthly to 623K new homes. Forex traders can compare this to US New Home Sales for December which increased by 3.7% monthly to 621K new homes.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Chinese Industrial Production: Chinese Industrial Production for February increased by 5.3% annualized. Economists predicted an increase of 5.6% annualized. Forex traders can compare this to Chinese Industrial Production for January which increased by 6.2% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for February increased by 6.1% annualized. Economists predicted an increase of 6.1% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for January which increased by 5.9% annualized.
- Chinese Property Investment: Chinese Property Investment for February increased by 11.6% annualized. Forex traders can compare this to Chinese Property Investment for January which increased by 9.5% annualized.
- Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for February was reported at 5.3%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for January which was reported at 4.9%.
- Chinese Retail Sales: Chinese Retail Sales for February increased by 8.2% annualized. Economists predicted an increase of 8.2% annualized. Forex traders can compare this to Chinese Retail Sales for January which increased by 9.0% annualized.
- Swiss Producer & Import Prices: Swiss Producer & Import Prices for February increased by 0.2% monthly and decreased by 0.7% annualized. Economists predicted a decrease of 0.1% monthly of 1.0% annualized. Forex traders can compare this to Swiss Producer & Import Prices for January which decreased by 0.7% monthly and by 0.5% annualized.
Should price action for the USDCHF remain inside the or breakdown below the 1.0025 to 1.0050 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0035
- Take Profit Zone: 0.9790 – 0.9840
- Stop Loss Level: 1.0090
Should price action for the USDCHF breakout above 1.0050 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0080
- Take Profit Zone: 1.0160 – 1.0210
- Stop Loss Level: 1.0035
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
