by Henry Liu on September 30, 2009
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10:00am (NY Time) US ISM Manufacturing PMI Forecast 53.9 Previous 52.9
ACTION: USD/JPY BUY 56.0 SELL 51.0
The Institute of Supply Management Manufacturing PMI releases are highly regarded by traders since their inception, and throughout the years they have been proven to be extremely accurate in predicting the long-term trend as well as a leading indicator over the Manufacturing sector in the economy; this will be the first look of the new quarter as these purchasing managers express their opinion over the economy.
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by Henry Liu on September 30, 2009
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4:30am (NY Time) UK Manufacturing PMI Forecast 50.2 Previous 49.7
ACTION: GBP/USD BUY 52.2 SELL 48.00
DEFINITION: “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.”
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by Henry Liu on September 29, 2009
One of my worst fears is probably going to the dentist, and today marks the day that I, Henry Liu, resisted the urge to break down and cry like little school girls as many grown men have done before me, and announce that I am now 2 wisdom teeth less, and 2 more to go. (That’s me after my Dentist Appointment…)
Simple things such as going to the dentist could have a huge impact in a trader’s life, as I rate this event ”catastrophic” impact level, equivalent to about 10 Nonfarm Payroll events combined, because if you are trading with stress, pain, or any kind of anxiety, you could be risking an account blowout.
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by Henry Liu on September 29, 2009
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8:30am (NY Time) CA GDP m/m Forecast 0.4% Previous 0.1%
ACTION: USD/CAD SELL 0.7% BUY 0.1%
We’ll be trading the Canadian Gross Domestic Product (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 and strong effect on the Interest rate of the currency, and it affects BOC’s short-term rate decision directly.
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by Henry Liu on September 29, 2009
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8:15am (NY Time) US ADP NFP Changes Forecast -200K Previous -298K
ACTION: USD/JPY or USD/CHF BUY -130K SELL -270K
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by Henry Liu on September 28, 2009
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It’s like mana from heaven…
… and it could be yours, if you were trading in the unholy hours of Sunday evening (NY Time)…
Here is the scoop: Japanese Finance Minister Fujii surprised the market late evening by hinting that Japanese government will not intervene the market, allowing free regin over the recent JPY strength. The result of this little verbal diarrhea caused some massive movement in the JPY crosses only comparable to the likes of 2008 carry trade capitulation… needless to say, USD/JPY went as low as 88.24, dropping almost 200 pips in a matter of few hours, taking out all previous support in all jpy crosses.
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by Henry Liu on September 28, 2009
9:30pm (NY Time) AU Retail Sales m/m Forecast 0.6% Previous -1.0%
ACTION: AUD/USD BUY 1.2% SELL -0.1%
The simple plan for today’s Retail Sales is that if we get a better than the forecast figure of 0.6%, we would BUY AUD/USD; and if we get worse than the forecast figure, somewhere in the vicinity of -0.1% or worse, we will SELL AUD/USD.
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