by Henry Liu on August 31, 2009
9:30pm (NY Time) AU GDP q/q Forecast 0.6% Previous 0.4%
ACTION: AUD/USD BUY 0.8% SELL 0.3%
We’ll be trading the quarterly GDP number out of Australia, which is expected to be the second quarterly positive release as the consensus expectation is at 0.6%. As a technical recession is defined as two consecutive quarters of negative GDP, a two consecutive quarters release of positive GDP certainly implies recovery. This should add to the already highly demanded AUD and boost risk appetite sentiment should we get a 0.8% release.
Click on post title above to read the full article.
by Henry Liu on August 31, 2009
10:00am (NY Time) US ISM Manufacturing PMI Forecast 50.6 Previous 48.9
ACTION: USD/JPY BUY 53.0 SELL 48.0
The ISM PMI releases are highly regarded by traders and investors alike since they have been proven throughout the years to be extremely accurate and as a first look and leading indicator over the Manufacturing sector in the economy, this will be the first release in over a year to be over the medium 50 figure.
Click on post title above to read the full article.
by Henry Liu on August 31, 2009
4:30am (NY Time) UK Manufacturing PMI Forecast 51.5 Previous 50.8
ACTION: GBP/USD BUY 53.5 SELL 49.0
UK Manufacturing PMI is a survey of purchasing managers in the manufacturing sector on various economic activities, including inventory, employment, orders, etc… A higher than 50 reading means expansion, or a less than 50 reading means contraction. If this number stays above 50, there shouldn’t be much market reaction; however, if this number falls below 50, GBP could be under some selling pressure as the confidence level for Sterling has been low among investors.
Click on post title above to read the full article.
by Henry Liu on August 31, 2009
12:30am (NY Time) AU RBA Rate Decision Forecast 3.00% Previous 3.00%
ACTION: AUD/USD N/A
Reserve Bank of Australia (RBA) is likely to keep its official cash rate unchanged at 3.00% as expected by the majority economists surveyed by both Bloomberg and Reuters. As a matter of fact, due to the recent optimism in the market and signs of early recovery, the next logical move for RBA in its rate policy is likely to be hiking rates rather than cutting rates.
Click on post title above to read the full article.
by Henry Liu on August 31, 2009
8:30am (NY Time) CA GDP m/m Forecast 0.2% Previous -0.5%
ACTION: USD/CAD BUY -0.1% SELL 0.5%
I’ll be trading the CA GDP month on month figure, 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.
Click on post title above to read the full article.
by Henry Liu on August 19, 2009
My Dear Blog Followers!!!
Finally it is time for me to take on that end of summer trip I’ve been waiting for, and this time my destination is a 7-day cruise to Alaska!!! I will be gone for about 10 days, and hopefully I’ll be back trading Forex on Sunday 8/30/09…
Click on post title above to read the full article.
by Henry Liu on August 19, 2009
4:30am (NY Time) UK Retail Sales Forecast 0.3% Previous 1.2%
ACTION: GBP/USD BUY 0.9% SELL -0.3%
Our focus will once again be on the UK Retail Sales, which measures activities at the retail level of the nation; a higher Retail sales number means better economy, thus better for Sterling.
Click on post title above to read the full article.
