Source: PaxForex Premium Analytics Portal, Fundamental Insight

Foreign Buying of Japanese Bonds for the period ending April 13th came in at -¥1,005.9B, and Foreigners Buying of Japanese Stocks at ¥1,740.0B. Forex traders can compare this to the Foreign Buying of Japanese Bonds for the period ending April 6th, reported at ¥347.9B, and to Foreigners Buying of Japanese Stocks at ¥1,764.9B.

The Australian Employment Change for March came in at -6.6K and the Unemployment Rate at 3.8%. Economists predicted a figure of 7.2K and 3.9%. Forex traders can compare this to the Australian Employment Change for February, reported at 117.6K, and the Unemployment Rate reported at 3.9%. 27.9K Full-Time Positions were created in March, and 34.5K Part-Time Positions were lost. Forex traders can compare this to the creation of 79.4K Full-Time Positions, and 38.2K Part-Time Positions reported in February. The Labor Force Participation Rate for March came in at 66.6%. Forex traders can compare this to the Labor Force Participation Rate for February, reported at 66.7%.

Australian NAB Business Confidence for the first quarter came in at -2. Forex traders can compare this to Australian NAB Business Confidence for the fourth quarter, reported at -6.

The Japanese Tertiary Industry Index for February rose 0.6% monthly. Economists predicted an increase of 0.8% monthly. Forex traders can compare this to the Japanese Tertiary Industry Index for January, which plunged 10.1% monthly.

The Swiss Trade Balance for March came in at CHF3.542B. Economists predicted a figure of CHF3.220B. Forex traders can compare this to the Swiss Trade Balance for February, reported at CHF3.680B.

The Eurozone Current Account (s.a) for February is predicted at €45.2B. Forex traders can compare this to the Eurozone Current Account (s.a.) for January, reported at €39.4B.

US Initial Jobless Claims for the week of April 13th are predicted at 215K. Forex traders can compare this to US Initial Jobless Claims for the week of April 6th, reported at 211K.

The Philadelphia Fed Manufacturing Index for April is predicted at 1.5. Forex traders can compare this to the Philadelphia Fed Manufacturing Index for March, reported at 3.2. Traders should focus on the CAPEX, Prices Paid, New Orders, and Employment sub-components.

US Existing Home Sales for March are predicted at 4.20M. Forex traders can compare this to US Existing Home Sales for February, reported at 4.38M.

The US Leading Index for March is predicted to drop 0.1% monthly. Forex traders can compare this to the US Leading Index for February, which rose 0.1% monthly.

US Natural Gas Inventories for the week ending April 12th are predicted at 54B cubic feet. Traders can compare this to US Natural Gas Inventories for the week ending April 5th, reported at 24B cubic feet.

The forecast for the XAU/USD remains bullish, with the ascending Ichimoku Kinko Hyo Cloud providing long-term upside pressure. Short-term volatility could rise with the Tenkan-sen moving higher and the Kijun-sen flat. Traders should also monitor the CCI following its breakdown from extreme overbought territory. This technical indicator trades above zero and has plenty of upside potential. Can bulls maintain control over gold and push this precious metal to new all-time highs? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for XAU/USD remain inside the or breakout above the 2,355.00 to 2,395.00 zone, PaxForex recommends the following trade set-up:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 2,378.00
• Take Profit Zone: 2,467.00 – 2,505.00
• Stop Loss Level: 2,330.00

Should price action for XAU/USD breakdown below 2,355.00, PaxForex recommends the following trade set-up:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 2,330.00
• Take Profit Zone: 2,289.00 – 2,303.00
• Stop Loss Level: 2,355.00

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