Forex News Trading and Currency Training Analysis Video
Australia GDP is a quarterly release similar to the U.S. Advanced GDP or the UK Pre-lim release, but usually there is only one release per quarter. Since this is a quarterly release, it is a high impact release that may change the short term trend of AUD. Here is the forecast:
9:30pm (NY Time) AU GDP q/q Forecast 0.9% Previous 0.5%
ACTION: AUD/USD BUY 1.2% SELL 0.6%
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 and a strong improvement may change the short term trend for the currency. Here’s the forecast:
9:30pm NY Time AU Retail Sales Forecast 0.4% Previous 0.2%
ACTION: AUD/USD BUY 1.0% SELL -0.2%
Here’s the forecast for U.S. Prelim. GDP:
8:30am (NY Time) US Prelim GDP q/q Forecast 1.5% Previous 2.4%
ACTION: USD/JPY BUY 1.8% SELL 1.2%
The Trade Plan
Our main focus tomorrow will be on the second of three quarterly (Q2) release of U.S. GDP number (Prelim). We are looking for a minimum deviation of 0.3% on the forecasted figure of 1.5%. Therefore if we get a 1.8% on the Prelim 2nd quarterly GDP, it would be US Dollar positive. We will BUY USD/JPY. However, if we get a 1.2% release or worse, then we would be SELLING USD/JPY. We’ll be looking to trade this release based on my Retracement Trading Method; since this is a high impact release, strong market volatility is expected immediately after the release.
US Existing Home Sales is expected to decline from previous month as current market situation is adding more pressure to the housing sector. Here’s forecast:
Existing Home Sales Forecast 4.70M Previous 5.37M
ACTION: USD/JPY BUY 5.10M SELL 4.30M
The Trade Plan
Because the Housing sector is one of the most important news events out of the US, this release will certainly cause some volatility in the market, especially if our tradable figures (+/- 400K) were hit. With the focus of the nation, and of the world, on the status of U.S. housing sector, this release may bring about a strong sentiment of risk appetite/aversion if our BUY/SELL trigger is hit…
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 release. Here is the forecast:
4:30am NY Time UK CPI y/y Forecast 3.1% Previous 3.2%
ACTION: GBP/USD BUY 3.4% SELL 2.8%
We’ll be getting the Core Retail Sales (and Retail Sales) figure out of U.S. today, as high impact news releases are concerned, Retail Sales makes up about 2/3 of U.S. GDP (economy)… Here’s the forecast:
8:30am (NY Time) US Core Retail Sales Forecast 0.3% Previous -0.1%
ACTION: USD/JPY BUY 0.9% SELL -0.3%
We’ll be trading US Core CPI m/m release today. CPI or Consumer Price Index, also known as the “true cost of living”, is what drives Central Banks to raise/cut interest rate, therefore this release will be widely watched. At the same time, we also have the US Core Retail Sales, which is another strong high impact release that could change the short term market trend; therefore please also read my analysis on that release… Here’s the forecast for the CPI:
8:15am NY Time US ADP NFP Change Forecast -149K Previous -203K ACTION: USD/JPY BUY -80K SELL -230K Our focus today will be on the ADP Employment Release. … [Read More...]
8:30am NY Time Canada GDP m/m Forecast 0.4% Previous -0.1% ACTION: USD/CAD BUY 0.1% SELL 0.7% Today we’ll be trading the Canadian GDP month on month release, … [Read More...]
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% … [Read More...]
We'll be trading US Core CPI m/m release today. CPI or Consumer Price Index, also known as the "true cost of living", is what drives Central Banks to raise/cut interest rate, therefore this release will … [Read More...]
8:30am (NY Time) EU Trichet Press Conference ACTION: EUR/USD BUY (Hawkish) SELL (Dovish) Trichet will deliver a statement along with a pretty-lengthy Q&A session after. This press … [Read More...]
4:30am (NY Time) UK GDP q/q Forecast 0.4% Previous -0.2% ACTION: (GBP/USD) BUY 0.7% SELL … [Read More...]
9:30pm (NY Time) AU Employment Changes Forecast -14.7 Previous 32.2K ACTION: AUD/USD BUY +10K SELL -38K This news release is similar to US NFP, but for Australia. It is considered … [Read More...]
Henry Liu (1)
Kingsley (1)
Robert ... (1)
stephen (1)
Recent Comments