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AUDUSD Fundamental Analysis – October 8th 2019Here are the key factors to keep in mind today for Australian Dollar trades: Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of October 6th was reported at 112.3. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of September 29th which was reported at 114.7. Australian NAB Business Conditions and Australian NAB Business Confidence: Australian NAB Business Conditions for September were reported at 2 and Australian NAB Business Confidence at 0. Forex traders can compare this to NAB Business Conditions for August which were reported at 1 and to Australian NAB Business Confidence which was reported at 1. Australian ANZ Job Advertisements: Australian ANZ Job Advertisements for September increased by 0.3% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for August which decreased by 2.6% monthly. Chinese Caixin Services PMI and Chinese Caixin Composite PMI: The Chinese Caixin Services PMI for September was reported at 51.3. Economists predicted a figure of 52.0. Forex traders can compare this to the Chinese Caixin Services PMI for August which was reported at 52.1. The Chinese Caixin Composite PMI for September was reported at 51.9. Forex traders can compare this to the Chinese Caixin Composite PMI for for August which was reported at 51.6. Here are the key factors to keep in mind today for US Dollar trades: US NFIB Small Business Optimism Index: The US NFIB Small Business Optimism Index for September is predicted at 102.6. Forex traders can compare this to the NFIB Small Business Optimism Index for August which was reported at 103.1. US PPI: The US PPI for September is predicted to increase by 0.1% monthly and by 1.8% annualized. Forex traders can compare this to the US PPI for August which increased by 0.1% monthly and 1.8% annualized. The US Core PPI for September is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the US Core PPI for August which increased by 0.3% monthly and by 2.3% annualized. The US Core PPI ex Trade for September is predicted to increase by 0.2% monthly and by 1.7% annualized. Forex traders can compare this to the US Core PPI ex Trade for August which increased by 0.4% monthly and by 1.9% annualized. US IBD/TIPP Economic Optimism Index: The US IBD/TIPP Economic Optimism Index for October is predicted at 51.2. Forex traders can compare this to the US IBD/TIPP Economic Optimism Index for September which was reported at 50.8. Should price action for the AUDUSD remain inside the or breakout above the 0.6730 to 0.6775 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6750 Take Profit Zone: 0.6865 – 0.6895 Stop Loss Level: 0.6700 Should price action for the AUDUSD breakdown below 0.6730 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6685 Take Profit Zone: 0.6545 – 0.6580 Stop Loss Level: 0.6730 Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Online forex trading remains the fastest sector of the global financial market. Find out why more forex traders prefer to grow their accounts at PaxForex every day!
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