8:30pm NY Time AU Retail Sales Forecast 0.3% Previous 1.2%
ACTION: AUD/USD BUY 0.9% SELL -0.3%
We’ll be looking for a possible trade on the Australian Retail Sales m/m release and we are looking for a minimum deviation of 0.6% from the forecast release of 0.3%. If we get a 0.9% (or better) or -0.3% (or worse), we’d get in either on a LONG or SHORT trade depending on the release with a high probability of seeing the market move over 50 pips in the next 2 hours.
With RBA Governor’s recent bullish comments over future monetary policy, AUD is likely to remain in high demand for the time being and a positive release should help AUD/USD test recent highs, if not making a break above the range that it has been trading for the past 6 months.
DEFINITION
“Measures the value of sales at the retail level. A rising trend has a positive effect on the nation’s currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders payclose attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.”
Related posts:
- Australia Retail Sales m/m 03/01/2010
- Australia Retail Sales Trading Plan 05/31/10
- Australia Retail Sales 02/03/10
- Australia Retail Sales m/m 12/02/09
- Australia Retail Sales Forex Trading Plan 12/01/10
- Forex News Trading Australia Retail Sales m/m 08/31/11
- Australian Retail Sales Forex Trading Strategy
- Australian Retail Sales m/m 01/06/10
- Forex Trade Plan For AU Retail Sales 08/30/10
- Forex News Trading Australian Retail Sales 11/03/10
{ 1 comment… read it below or add one }
Your prediction was very accurate as per AUD RETAIL SALES that was just came out. weldone.You are a guru