8:30am (NY Time) US Core Retail Sales Forecast 0.4% Previous 0.5%
ACTION: USD/JPY BUY 1.0% SELL -0.2%
Our focus will be on the Retail Sales release out of U.S. today. We have both retail sales (healine and core, also know as ex auto) scheduled to be released at exactly 8:30am. It is important that there is no conflict with the numbers between in order for us to get into a trade. The Core release is more accurate reflection of the activities at the retail level because it excludes the seasonal Automotive components; the headline Retail Sales should be in the same direction as of the Core reading, and the headline is currently forecasted at 1.0% with a previous release of -2.1%.
As we could probably expect the market to react based on risk sentiment, therefore I may have to focus on other pairs such as the EUR/JPY or GBP/JPY for best results, using USD/JPY as a gauge. (USD/JPY up for risk appetite and USD/JPU down for risk aversion)
DEFINITION:
“(Retail Sales Core) Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.”
Related posts:
- US Core Retail Sales m/m 10/14/09
- US Core Retail Sales m/m 12/11/09
- US Core Retail Sales m/m 09/15/09
- US Core CPI m/m 11/18/09
- US CPI m/m 10/15/09
- Australia Retail Sales m/m 12/02/09
- Australia Retail Sales Trading Plan 05/31/10
- UK Retail Sales m/m 01/22/10
- Forex Trade Plan For NZ Retail Sales m/m 07/13/10
- Forex Trade Plan For AU Retail Sales 08/30/10
{ 2 comments… read them below or add one }
Hi Henry I tweet you but had no reply. I may hv done something not correct. Wanna buy yr ebook. Will we get V1 or V2?
The latest version, of course.
Henry