by Henry Liu on November 30, 2009
10:00am (NY Time) US ISM Manufacturing PMI Forecast 54.8 Previous 55.7
ACTION: USD/JPY BUY 57.0 SELL 52.0
We’ll be looking to trade the ISM Manufacturing PMI today and we’ll be looking for a minimum of 2.5 of deviation either way. In the event we get a better than expected release, this could once again fuel the sentiment of risk appetite, thus USD could remain under pressure; however, if the release is negative, below the medium 50 level, we could see stronger USD and stronger JPY throughout the rest of the US session. Since this is a leading indicator, investors pay more attention to this release for signs of market direction of December.
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by Henry Liu on November 3, 2009
4:30am (NY Time) UK Service PMI Forecast 55.4 Previous 55.3
ACTION: GBP/USD SELL 53.40 BUY 57.40
We’ll be trading the Services PMI figure today and we’ll look for a minimum surprise factor of 2.0 from the forecast release figure. If we get at least 57.40 or better, we could see support in the GBP and a possible LONG trade for GBP/USD and GBP/JPY could be justified. If we get a 54.4 or worse release, GBP could weaken significantly ahead of the BOE rate decision on Thursday, thus exaggerating the effect of this release.
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by Henry Liu on November 2, 2009
7:30pm (NY Time) AU Retail Sales m/m Forecast 0.5% Previous 0.9%
ACTION: AUD/USD BUY 1.1% SELL -0.1%
The plan for this release is to look for a deviation of 0.6% from the forecast release of 0.5%. Therefore, if we get a 1.1% or -0.1%, we’d have our trigger to get in either on a LONG or SHORT trade depending on the release, with a high probability of seeing the market moving over 50 pips in the next 2 hours.
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by Henry Liu on November 2, 2009
10:00am (NY Time) US ISM Manufacturing PMI Forecast 53.1 Previous 52.6
ACTION: USD/JPY BUY 55.5 SELL 50.0
With US ISM Manufacturing release today, we’ll be looking for a minimum of 2.5 of deviation either way. In the event we get a better than expected release, this could once again fuel the sentiment of risk appetite, thus USD could remain under pressure; however, if the release is negative, below the medium 50 level, we could see stronger USD and stronger JPY throughout the rest of the US session. Since this is a leading indicator, investors pay more attention to this release for signs of the direction of November.
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