UK Retail Sales m/m 11/19/09

4:30am (NY Time) UK Retail Sales   Forecast 0.6%   Previous 0.0%
ACTION: GBP/USD         BUY 1.2%       SELL -0.1%

Retail Sales is a direct measurement of consumer activities at the retail levels.  A higher release is obviously good for the economy, thus better for it’s currency whereas a lower release is considered as negative for the economy and not good for it’s currency.  Retail Sales usually makes up a substantial part of the GDP, thus the effect of this release could be very profound.

Our tradable deviation for UK Retail Sales is at 0.6% on the Headline number. If our deviation is hit, we can expect the market to move at least 50 pips within the hour, with a historical accuracy of 72%.  If we do not get at minimum of 0.6% in deviation or difference from the expectation, we are like not take a trade as the release figure might not be safe enough for a successful trade based on historical data…

Based on recent market sentiment for the Sterling, which showed some remarkable resilience during the early part of the week, a positive release could send Sterling retest recent highs against USD and JPY; however, on a negative release we could see GBP remain supported.  Therefore we must consider these context when entering our trade.

Related posts:

1. UK Retail Sales m/m 10/22/09
2. Trade Plan For UK Retail Sales 05/20/10
3. UK Retail Sales m/m 01/22/10
4. Trading Plan For UK Retail Sales 06/17/10
5. UK Retail Sales m/m 12/17/09
6. UK Retail Sales 03/25/2010
7. Forex News Trading UK Retail Sales m/m 02/18/11
8. UK Retail Sales m/m 02/19/2010
9. Forex Trading Plans For UK Retail Sales m/m 09/16/10
10. Forex Trading Plan For UK Retail Sales 04/22/10

Tagged as: Consumer Consumption, currency, economy, Expectation, GBP, GBP/JPY, GBP/USD, GDP, Headline Number, Historical Accuracy, Investors, market sentiment, Measurement, Nbsp, negative sentiment, pips, Remarkable Resilience, retail level, Retail Sales, Sales Forecast, Sterling, trade, UK, uk retail sales