Trading Ideas - Rba Interest Rate Decision, Consumer Price Index, Ism Manufacturing - September 2nd - Forex Forum

Hello,
This morning the RBA (Reserve Bank of Australia) cuts the interest rate to 7.0% (previous 7.25%). It's a negative decision for the AUD but the market was prepared, AUDUSD and EURAUD didn't react to the news.


Today in our economic calendar:

05:45 GMT: Consumer Price Index. The Consumer Price Index, issued by the Swiss Federal Statistical Office, measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends.The purchase power of CHF is dragged down by inflation. A high reading is positive for the CHF, while a low reading is negative.

14:00 GMT: ISM Manufacturing. The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

23:01 GMT: Nationwide Consumer Confidence. The Nationwide Consumer Confidence captures the level of confidence that individuals have in current and future UK's economy. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is also positive for the GBP, while a low reading is negative.

I come back in one hour with the technical analysis.... stay tuned

Some trade ideas :
Speculative. Sell EUR/CHF. If the price breaks 1.6000 we could make a great trade.


Follow the trend on EUR/JPY, GBP JPY, GBP USD




Buy USD/CHF and sell EUR/USD