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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%
8:30am NY Time Canada GDP m/m Forecast 0.5% Previous 0.6% ACTION: USD/CAD BUY 0.2% SELL 0.8% We’ll be trading the Canadian GDP release (m/m) today, and GDP is … [Read More...]
8:30am (NY Time) US ADV GDP q/q Forecast 4.5% Previous 2.2% ACTION: USD/JPY USD/CHF BUY 4.8% SELL 4.2% Our main … [Read More...]
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10:00am NY Time US Existing Home Sales Forecast 5.51M Previous 5.45M ACTION: USD/JPY BUY 5.90M SELL 5.10M We’ll be focusing on trading the … [Read More...]
Greece got a 45 Billion Euro rescue package at 5% interest rate, which is below the 6.98% rate. As reported in the Bloomberg Article, managing director of BlueGold Capital Management LLP in London said" “This … [Read More...]
7:45am (NY Time) EU ECB Rate Decision Forecast 1.00% Previous 1.00% ACTION: EUR/USD N/A ECB (European Central Bank) will probably once again leave its minimum bid rate at 1.00% … [Read More...]
[flv:http://www.newsprofiteer.com/100809-trichet/100809-trichet.mp4 480 360] 8:30am (NY Time) EU Trichet Press Conference ACTION: EUR/USD BUY (Hawkish) SELL (Dovish) Trichet will … [Read More...]
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