BOE (Bank of England) will be rendering its interest rate decision today, and it would provide strong volatility in the market if BOE´s final decision turns out to be a surprise, here´s the forecast:
7:00am (NY Time) UK Official Bank Rate Forecast 0.50% Previous 0.50%
APT (Asset Purchasing Target) Forecast 325B Previous 275B
ACTION: GBP/USD BUY 0.75% (Rate) / SELL 350B (APT)
Manufacturing PMI is a leading indicator that is usually released early in the month. Traders pay attention to this release for surprises as this survey may help to shape the general trend of the currency for the rest of the month. Here is the forecast:
4:30am (NY Time) UK Manufacturing PMI Forecast 50.0 Previous 49.6
ACTION: GBP/USD BUY 52.0 SELL 48.0
Here is the forecast for the US Advanced GDP q/q :
8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL EURUSD 3.3% / BUY EURUSD 2.5%
The Trade Plan
We are looking for a deviation between 0.3% ~ 0.5% from the forecasted figure of 3.0%. Therefore if we get a 3.3% on the 4th quarter GDP, it would be US Dollar positive. We will SELL EURUSD. However, if we get a 2.7% release or worse, then we would be BUY EURUSD. 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.
Today´s Retail Sales number from UK will be widely watched as this is a high impact yet very tradable report. Here is the forecast for this release:
4:30am (NY Time) Forecast 0.6% Previous -0.4%
ACTION: GBP/USD BUY 1.0% SELL 0.0%
The Trade Plan
The monthly retail sales report is a direct measurement of consumer activities at the retail level. A higher release is generally good for the economy, and better for it´s currency; a lower release is considered negative for the economy and not good for it´s currency.
BOE (Bank of England) will be rendering its interest rate decision today, and it would provide strong volatility in the market if BOE´s final decision turns out to be a surprise, here´s the forecast:
7:00am (NY Time) UK Official Bank Rate Forecast 0.50% Previous 0.50%
APT (Asset Purchasing Target) Forecast 275B Previous 275B
ACTION: GBP/USD BUY 0.75% (Rate) / SELL 300B (APT)
Manufacturing PMI is a leading indicator that is usually released early in the month. Traders pay attention to this release for surprises as this survey may help to shape the general trend of the currency for the rest of the month. Here is the forecast:
4:30am (NY Time) UK Manufacturing PMI Forecast 47.5 Previous 47.5
ACTION: GBP/USD BUY 50.0 SELL 45.0
Today´s Retail Sales number from UK will be widely watched as this is a high impact yet very tradable report. Here is the forecast for this release:
4:30am (NY Time) Forecast -0.3% Previous 0.6%
ACTION: GBP/USD BUY 0.2% SELL -0.8%
The Trade Plan
The monthly retail sales report is a direct measurement of consumer activities at the retail level. A higher release is generally good for the economy, and better for it´s currency; a lower release is considered negative for the economy and not good for it´s currency.
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Upcoming Forex News Calendar For January 16 ~ 20, 2012
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Upcoming Forex News Calendar For January 9 ~ 13, 2012 The first real trading week for the new year in markets started with investors focused on Europe. US and European markets were ... (2277) Forex News Trading US Advanced GDP 01/27/12 Here is the forecast for the US Advanced GDP q/q :
8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2176)
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