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US Advanced GDP q/q 07/31/09

July 30, 2009 By Henry Liu 2 Comments

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8:30am (NY Time) US ADV GDP q/q     Forecast -1.4%     Previous -5.5%
ACTION: USD/JPY                                             BUY -1.1%                SELL -1.7%

GDP, which is defined (from wikipedia) as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects FOMC’s decision directly.

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Filed Under: Forex News Trade, US GDP q/q, USA Tagged With: , , , , , , , , , , , , , , , ,

Canada GDP m/m 07/31/09

July 30, 2009 By Henry Liu 1 Comment

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8:30am CA GDP m/m     Forecast -0.4%    Previous -0.1%
ACTION: USD/CAD          SELL 0.1%               BUY -0.7%

Our focus will be on CA GDP, which is defined (from wikipedia) as “the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time.” GDP number has a direct effect on the Interest rate of the currency, it is one of the news indicators that affects BOC’s decision directly.

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

Currency Trading Tips #2: Pick your battles!

July 30, 2009 By Henry Liu 16 Comments

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Every time before I get into a trade, I would analyze the market using my own mental checklist, and #1 item on that list is just a simple question:

REAL REASON FOR THIS TRADE?

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RBNZ Official Cash Rate Decision and Statement 07/29/09

July 28, 2009 By Henry Liu 10 Comments

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RBNZ (Reserve Bank of New Zealand) will be rendering its Interest Rate Decision on the current rate of 2.50%.  Analysts consensus is for an unchanged verdict at 2.50% as the current market condition and New Zealand’s economic outlook don’t justify further rate cutting or hiking at this present moment.  However, it is possible we might see some speculative market movement prior to this release, as the accompanied statement may disclose future monetary policy direction and surprise the market.

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Filed Under: Forex News Trade, NZD Interest Rate, New Zealand Tagged With: , , , , , , , , , , , , , , , , ,

US Durable Goods Orders m/m 07/29/09

July 28, 2009 By Henry Liu 3 Comments

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8:30am (NY Time) US Durable Goods Orders    Forecast 0.1%     Previous 1.1%
ACTION: USD/JPY                                                   BUY 1.9%              SELL -1.7%

Durable Goods calculates purchase orders of goods that have a life-expectancy of 3 years or more, instead of goods that are being used up all at once. Examples of durable goods are cars, appliances, business equipments, etc…  Core Durable goods is a derivative of Durable goods that excludes Transportation element, which is a better indication of the nation’s economic status, since transportation elements fluctuate from months to months.  Forex traders watch this report closely because a strong number shows a healthy outcome for the economy.

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Filed Under: Forex News Trade, General, USA Tagged With: , , , , , , , , ,

Currency Trading Tips # 1: Don’t bet the farm… (The Grandma Indicator)

July 27, 2009 By Henry Liu 8 Comments

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Last week turned out to be another week of risk appetite driven week… Seems like everyone and their cousins are ready to get back in the market and start to “make money” while bunch of so-called analysts are popping up everywhere saying that “recovery will take full force” and “there are more room for this upside move”; if you watched any of these financial channels over the weekend, undoubtedly you should be convinced of what a great opportunity it is… so what are you waiting for?

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US New Home Sales 7/27/09

July 26, 2009 By Henry Liu 33 Comments

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10:00am (NY Time) US New Home Sales   Forecast 353K  Previous 342K
ACTION: (USD/JPY)                                                 BUY 423K             SELL 273K

New Home Sales is expected at 423K, if the number is lower, it would be bad for USD, so we will look to SELL USD/JPY; if the number is higher, it would be good for USD, we could see a rally in USD and BUY USD/JPY.

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Filed Under: US New Home Sales, USA Tagged With: , , , , , , , , , , , , , , ,
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