9:30pm (NY Time) AU Retail Sales m/m Forecast 0.5% Previous 1.0%
ACTION: AUD/USD BUY 1.1% SELL -0.1%
If we get better numbers for the Retail Sales, which is forecasted at 0.5%, it would be good for the AUD/USD and provide temporary support, we would BUY AUD/USD. If we get worse numbers, somewhere in the -0.1% or worse, we will SELL AUD/USD.
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.
UPDATE: Retail Sales came out much worse than expected at -1.4%, but the inflation adjusted number was 2.0% versus 1.3% expected, so a conflict that cause the market to act in a whipsaw manner immediately after the release.
I decided to SELL at the top due to this reason based on a conflict of numbers and the uncertainty surrounding the RBA Interest Rate Statement to be released at 12:30am, or 90 minutes later. Make sure you watch the video once it is available.
[flv:http://www.newsprofiteer.com/080309-audretailsales/080309-audretailsales.mp4 480 360]
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{ 4 comments… read them below or add one }
henry pls do you send signals to phones,i mean signals with figures,pls i want to learn hw to enter a good trades.
I run a trade room in a beta type of format at the present moment, I will make it public soon sometime in November, so please wait for my email invite.
Hi Henry,
Sorry for writing this here, but I was just wondering if you got my email? I used the contact form on your salespage, and I have sent it some three times now, without any reply. Should I use another email?
Please resend me your email, had a major issue with spam as I get over 1000 email a day. I will watch out for your emails.