Here are the key factors to keep in mind today for US Dollar trades:
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for August is predicted at 54.5. Forex traders can compare this to the previous US Markit Manufacturing PMI for August which was reported at 54.5.
- US Construction Spending: US Construction Spending for July is predicted to increase by 0.4% monthly. Forex traders can compare this to US Construction Spending for June which decreased by 1.1% monthly.
- US IBD/TIPP Economic Optimism Index: The US IBD/TIPP Economic Optimism Index for September is predicted at 57.8. Forex traders can compare this to the US IBD/TIPP Economic Optimism Index for August which was reported at 58.0.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for August is predicted at 57.6. Forex traders can compare this to the US ISM Manufacturing Index for July which was reported at 58.1. ISM Prices Paid for August are predicted at 74.0. Forex traders can compare this to ISM Prices Paid for July which were reported at 73.2. ISM Employment for August is predicted at 56.0. Forex traders can compare this to ISM Employment for July which were reported at 56.5.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for August was reported flat at 0.0% monthly and increased by 1.2% annualized. Economists predicted a flat reading of 0.0% monthly and an increase of 1.2% annualized. Forex traders can compare this to the Swiss CPI for July which decreased by 0.2% monthly and which increased by 1.2% annualized. The Swiss Core CPI for August increased by 0.5% annualized. Forex traders can compare this this to the Swiss Core CPI for July which increased by 0.5% annualized. The Swiss EU Harmonized CPI for August was reported flat at 0.0% monthly and increased by 1.3% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for July which increased by 0.4% monthly and by 1.2% annualized.
Should price action for the USDCHF remain inside the or breakout above the 0.9680 to 0.9745 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9715
- Take Profit Zone: 0.9955 – 1.0000
- Stop Loss Level: 0.9650
Should price action for the USDCHF breakdown below 0.9680 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9655
- Take Profit Zone: 0.9510 – 0.9535
- Stop Loss Level: 0.9715
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