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Forex Trading Plan For ECB Interest Rate Decision 09/02/10

September 1, 2010 By Henry Liu Leave a Comment

trichet
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ECB (European Central Bank) will be rendering its rate decision today, it is widely believed that ECB will keep current rate unchanged. Here’s the forecast:

7:45am (NY Time) EU ECB Rate Decision Forecast 1.00% Previous 1.00%
ACTION: EUR/USD BUY 1.25% SELL 0.75%

The Trade Plan
ECB rate decision comes in two part, the first one is the 7:45am rate announcement followed by the 8:30am Press Conference where ECB chief Trichet issues the official statement on this rate decision. Since it is extremely unlikely to get a surprise from ECB, there is usually no volatility following this release, we should focus on the actual Trichet’s speech in 45 minutes.

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Filed Under: EUR ECB Interest Rate, Europe, Forex News Trade Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

ISM Manufacturing PMI Trade Plan 09/01/10

August 31, 2010 By Henry Liu Leave a Comment

USA
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ISM or Institute for Supply Management is releasing its PMI (Purchasing Manager Index) and it is similar to the UK Manufacturing PMI as this release is targeting the Manufacturing sector. As a leading indicator, traders generally pay attention to this report for hints of economic trend. Here’s the forecast:

10:00am NY Time US ISM Manufacturing PMI Forecast 53.2 Previous 55.5
ACTION: USD/JPY BUY 56.0 SELL 50.5 USDJPY

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Filed Under: Forex News Trade, US ISM Manufacturing, USA Tagged With: , , , , , , , , , , , ,

Forex Plan For US ADP NFP Employment 09/01/10

August 31, 2010 By Henry Liu Leave a Comment

adp
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ADP or Automatic Data Processing (NASDAQ:ADP) is releasing it’s own estimate for the private sectors of NFP (Nonfarm Payroll). This is high impact release and it’s followed by currency traders as they look for hints on Friday’s NFP official release. Here’s the forecast:

8:15am NY Time US ADP NFP Change Forecast 20K Previous 42K
ACTION: USD/JPY BUY 70K SELL -30K

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Filed Under: Forex News Trade, US ADP NFP Changes, USA Tagged With: , , , , , , , , ,

Forex Trade Plan For UK Manufacturing PMI 09/01/10

August 31, 2010 By Henry Liu Leave a Comment

UK
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Manufacturing PMI is a leading indicator and it’s usually released during early month. Traders pay attention to this release for surprises as this survey may help to shape the general trend of the market. Here is the forecast:

4:30am (NY Time) UK Manufacturing PMI Forecast 57.1 Previous 57.3
ACTION: GBP/USD BUY 59.1 SELL 55.0

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Filed Under: Forex News Trade, Great Britain, UK Manufacturing PMI Tagged With: , , , , , , , ,

Trading Plan For AU GDP q/q 08/31/10

August 30, 2010 By Henry Liu Leave a Comment

AUD
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Australia GDP is a quarterly release similar to the U.S. Advanced GDP or the UK Pre-lim release, but usually there is only one release per quarter. Since this is a quarterly release, it is a high impact release that may change the short term trend of AUD. Here is the forecast:

9:30pm (NY Time) AU GDP q/q Forecast 0.9% Previous 0.5%
ACTION: AUD/USD BUY 1.2% SELL 0.6%

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Filed Under: AUD GDP q/q, Australia, Forex News Trade Tagged With: , , , , , , , , , , , , ,

Forex Trade Plan For Canada GDP m/m 08/31/10

August 30, 2010 By Henry Liu 2 Comments

CAD
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We’ll be receiving GDP release from Canada today. Here’s the forecast:

8:30am NY Time Canada GDP m/m Forecast 0.2% Previous 0.1%
ACTION: USD/CAD BUY -0.1% SELL 0.5%

The Trade Plan
I’ll be looking to BUY USD/CAD if we get a -0.1% or lower release, and SELL USD/CAD if we get a 0.5% or higher… With recent strength risk aversion sentiment driven market and stock market tumbling, a stronger GDP should provide some support for the CAD and I’ll be looking for a Retracement Trade Method for this release.

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Filed Under: CAD GDP m/m, Canada, Forex News Trade Tagged With: , , , , , , , , , , , , , , , ,

Forex Trade Plan For AU Retail Sales 08/30/10

August 30, 2010 By Henry Liu 1 Comment

AUD
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We’ll be getting the Retail Sales figure from Australia today once again, and if you’ve been following news out of Australia, you’d know that Retail Sales has been a sticky point for aussie economy and a strong improvement may change the short term trend for the currency. Here’s the forecast:

9:30pm NY Time AU Retail Sales Forecast 0.4% Previous 0.2%
ACTION: AUD/USD BUY 1.0% SELL -0.2%

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Filed Under: AUD Retail Sales, Australia, Forex News Trade Tagged With: , , , , , , , , , , , ,
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