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We’re also getting the Core Retail Sales release from Canada today, let’s look at the forecast:
Core Retail Sales Forecast 0.5% Previous -1.2%
ACTION: USD/CAD BUY -0.1% SELL 1.1%
The Trade Plan
I’m going to be looking for a deviation of 0.6% for this news. Since the forecast is at +0.5%, if we get a -0.1% or worse, it would be negative for the CAD and we’ll be looking to BUY USD/CAD; however, if the opposite is true, or a 1.1% of actual release, I’ll be looking to SELL USD/CAD.
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 getting the Retail Sales figure out of New Zealand today, since Retail Sales is a direct reflection of the economy, this release is considered as an high impact release… Here’s the forecast:
6:45pm (NY Time) NZ Retail Sales Forecast 0.6% Previous -0.3%
ACTION: NZD/USD BUY 1.2% SELL 0.0%
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 that a strong improvement may change the short term trend for the currency. Here’s the forecast:
9:30pm NY Time AU Retail Sales Forecast 0.3% Previous 0.6%
ACTION: AUD/USD BUY 0.9% SELL -0.3%
We’re also getting the Core Retail Sales release from Canada, let’s look at the forecast for this news:
8:30am NY Time Core Retail Sales Forecast 0.0% Previous 1.7%
ACTION: USD/CAD BUY -0.6% SELL 0.6%
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.
Here is a basic plan to trade US Core Retail Sales which is scheduled to be released at exactly 8:30am NY Time, and here are the forecasts:
8:30am (NY Time) US Core Retail Sales Forecast 0.2% Previous 0.4%
ACTION: USD/JPY (CORE) BUY 0.8% SELL -0.4%
We're also getting the Core Retail Sales release from Canada today, and with the Core CPI being released just about 90 minutes earlier, it’s important to take the context of the market into consideration … [Read More...]
I recorded this video on Friday demonstrating the power of my Market Cycle method. Honestly I had no plans to trade during this session since we've already made good pips off on the earlier Canadian … [Read More...]
[flv:http://www.newsprofiteer.com/100109-ukmanufpmi/100109-ukmanufpmi.mp4 480 360] 4:30am (NY Time) UK Manufacturing PMI Forecast 50.2 Previous 49.7 ACTION: GBP/USD BUY 52.2 … [Read More...]
ISM Manufacturing PMI is similar to the UK Manufacturing PMI, which is also a leading indicator and it is usually released at the beginning of the month; traders monitor this release as it may indicate … [Read More...]
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: … [Read More...]
ADP or Automatic Data Processing (NASDAQ:ADP) is releasing it's own estimate for the private sectors of NFP (Nonfarm Payroll). This is a widely followed release as traders look for hints on the Friday … [Read More...]
8:30am (NY Time) US Core CPI m/m Forecast 0.1% Previous 0.2% ACTION: USD/JPY BUY 0.3% SELL -0.1% Our focus will be on the Core CPI release and we are going to look for … [Read More...]
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