Here are the key factors to keep in mind today for US Dollar trades:
- US Non-Farm Productivity and Unit Labor Costs: Preliminary US Non-Farm Productivity for the third-quarter is predicted to increase by 2.0% quarterly and Unit Labor Costs are predicted to increase by 1.1% quarterly. Forex traders can compare this to US Non-Farm Productivity for the second-quarter which increased by 2.9% quarterly and to Unit Labor Costs which decreased by 1.0% quarterly.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of October 27th are predicted at 212K and US Continuing Claims for the week of October 13th are predicted at 1,639K. Forex traders can compare this to US Initial Jobless Claims for the week of October 20th which were reported at 215K and to US Continuing Claims for the week of October 6th which were reported at 1,636K.
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for October is predicted at 55.8. Forex traders can compare this to the previous US Markit Manufacturing PMI for October which was reported at 55.9.
- US Construction Spending: US Construction Spending for September is predicted flat at 0.0% monthly. Forex traders can compare this to US Construction Spending for August which increased by 0.1% monthly.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for October is predicted at 59.0. Forex traders can compare this to the US ISM Manufacturing Index for September which was reported at 59.8. ISM Prices Paid for October are predicted at 65.0. Forex traders can compare this to ISM Prices Paid for September which were reported at 66.9. ISM Employment for October is predicted at 57.5. Forex traders can compare this to ISM Employment for September which were reported at 58.8.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss SECO Consumer Confidence: Swiss SECO Consumer Confidence for October was reported at -6. Economists predicted a figure of -7. Forex traders can compare this to Swiss SECO Consumer Confidence for September which was reported at -7.
- Swiss CPI: The Swiss CPI for October increased by 0.2% monthly and by 1.1% annualized. Economists predicted an increase of 0.2% monthly and of 1.1% annualized. Forex traders can compare this to the Swiss CPI for September which increased by 0.1% monthly and by 1.0% annualized. The Swiss Core CPI for October increased by 0.5% annualized. Economists predicted an increase of 0.5%. Forex traders can compare this this to the Swiss Core CPI for September which increased by 0.4% annualized. The Swiss EU Harmonized CPI for October increased by 0.2% monthly and by 1.1% annualized. Economists predicted an increase of 0.1% monthly and of 1.1% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for September which was reported flat at 0.0% monthly and which increased by 1.1% annualized.
- Swiss Manufacturing PMI: The Swiss Manufacturing PMI for October was reported at 57.4. Economists predicted a figure of 58.7. Forex traders can compare this to the Swiss Manufacturing PMI for September which was reported at 59.7.
Should price action for the USDCHF remain inside the or breakdown below the 1.0000 to 1.0065 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.0030
- Take Profit Zone: 0.9810– 0.9850
- Stop Loss Level: 1.0095
Should price action for the USDCHF breakout above 1.0065 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.0075
- Take Profit Zone: 1.0155 – 1.0170
- Stop Loss Level: 1.0030
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