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We’ve got several trades this week that worked out according to my signals. I hope you were able to make some pips, I certainly did 
Here are the results:
NEWS TRADING
1. Tue July 20, 2010 9:00am EST (NY Time) CA BOC Overnight Rate- No Trade.
2. Thu July 22, 2010 4:30am EST (NY Time) UK Retail Sales m/m – No Trade
UK quarterly GDP release is always a high impact report. With this being the Prelim release, or the first release of three, we are likely to see more market participation. Here is the forecast number:
UK Prelim GDP q/q Forecast 0.6% Previous 0.3%
ACTION: (GBP/USD) BUY 0.8% SELL 0.3%
Today’s Retail Sales number from UK will be widely watched as this is a high impact yet tradable report. Here is the forecast for this release:
4:30am (NY Time) Forecast 0.5% Previous 0.6%
ACTION: GBP/USD BUY 1.0% SELL -0.1%
The Trade Plan
Retail Sales by definition is a direct measurement of consumer activities at the retail levels. A higher release is generally good for the economy, and better for it’s currency; a lower release is considered as negative for the economy and not good for it’s currency.
We’ll be trading the UK Consumer Price Index (CPI) release at 4:30am NY Time today. We’ll be looking at the yearly release figure and the market could react with lots of volatitility as CPI is the basic measurement of Inflation, therefore expect to see more exaggerated moves if we get a huge surprise in the release. Here is the forecast for this release:
We’ll be trading the UK Services Purchasing Manager Index today at 4:30am (NY Time). This is a leading indicator similar to the Manufacturing PMI that was released last week, here’s the forecast:
4:30am (NY Time) UK Services PMI Forecast 55.1 Previous 55.4
ACTION: GBP/USD BUY 57.5 SELL 52.5
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 57.6 Previous 58.0
ACTION: GBP/USD BUY 59.6 SELL 55.0
The Manufacturing PMI is forecasted at 57.6. Since PMI’s medium point is at 50, this forecast is considered as a positive release (above the 50 level means expansion in the manufacturing sector).
Today’s Retail Sales number from UK will be widely watched as this is a high impact yet tradable report. Here is the forecast for this release:
4:30am (NY Time) Forecast 0.1% Previous 0.3%
ACTION: GBP/USD BUY 0.7% SELL -0.5%
Retail Sales by definition is a direct measurement of consumer activities at the retail levels. A higher release is generally good for the economy, and better for it’s currency; a lower release is considered as negative for the economy and not good for it’s currency.
We’ll be trading the UK Consumer Price Index (CPI) release at 4:30am NY Time today. We’ll be looking at the yearly release figure and the market could react with lots of volatitility as CPI is the basic measurement of Inflation, therefore expect to see more exaggerated moves if we get a huge surprise in the release. Here is the forecast for this release:
4:30am NY Time UK CPI y/y Forecast 3.5% Previous 3.7%
ACTION: GBP/USD BUY 3.8% SELL 3.2%
8:30am (NY Time) US ADV GDP q/q Forecast 3.2% Previous -0.7% ACTION: USD/JPY USD/CHF BUY 3.5% SELL 2.9% Our focus … [Read More...]
[flv:http://www.newsprofiteer.com/100609-cadpmi/100609-cadpmi.mp4 480 360] 10:00am (NY Time) CA IVEY PMI Forecast 56.6 Previous 55.7 ACTION: USD/CAD BUY 53.6 SELL 59.6 We'll … [Read More...]
4:30am (NY Time) UK Services PMI Forecast 56.7 Previous 56.6 ACTION: GBP/USD BUY 58.7 SELL 54.7 We will be trading the Services … [Read More...]
7:00am NY Time CA Employment Changes Forecast 15K Previous -43.2K ACTION: USD/CAD SELL 45K BUY -15K We'll focus on the Canadian Employment Changes event, which … [Read More...]
8:15am NY Time US ADP NFP Change Forecast 40K Previous -20K ACTION: USD/JPY BUY +90K SELL -10K We’ll be focusing on the ADP NFP Employment Release today and … [Read More...]
CPI or Consumer Price Index is direct measurement of inflation, which is a high impact release that could have long term effect on CAD, it is undoubtedly a high impact release that will be the focus … [Read More...]
8:30am NY Time ECB Chairman Trichet Press Conference ACTION: N/A Trichet usually delivers an official statement along with a Q&A session 45 minutes after the official rate decision at 8:30am. … [Read More...]
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