[flv:http://www.newsprofiteer.com/101209-nzdretail/101209-nzdretail.mp4 480 360]
5:45pm (NY Time) NZ Retail Sales Forecast 0.6% Previous -0.5%
ACTION: NZD/USD BUY 1.2% SELL -0.1%
This is the measurement of consumer spending in the retail sector, as it reflects the strength of the economy and the pace of the recovery. We’ll be looking for a deviation of at least 0.6% from the consensus, therefore a positive 1.2% will be bullish signal for NZD, or a -0.1% will be a negative signal for NZD. We’ll look for entries after the release in the direction of the signal, provided that the market shows initial confirmation in the direction of the release first, coupled with a decent retracement for proper risk to reward ratio, then we’ll make our entry.
As this is a very slow moving currency, patience is definitely a virtue, and absolutely a requirement.
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 pay close 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:
- Forex Trade Plan For NZ Retail Sales m/m 07/13/10
- New Zealand Retail Sales m/m 11/11/09
- Forex Trade Plan NZ Retail Sales 09/13/10
- Forex Trade Plan For NZ Retail Sales 08/12/10
- Forex News Trading Plan For NZ Retail Sales 01/20/11
- Forex News Trading NZ Retail Sales q/q 08/24/11
- New Zealand Retail Sales 01/20/10
- Australia Retail Sales m/m 12/02/09
- Australia Retail Sales 02/03/10
- Australia Retail Sales Trading Plan 05/31/10
