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We are also getting the Canadian monthly GDP release at the same time of this release, therefore I’d recommend to either trade the U.S. release or concentrate on the Canadian release, do not try to trade both of them together… Here’s the forecast for U.S. Adv. GDP:
8:30am (NY Time) US ADV GDP q/q Forecast 2.5% Previous 2.7%
ACTION: USD/JPY BUY 2.8% SELL 2.2%
We’ve got several trades this week that worked out according to my signals. I hope you were able to make some pips, I certainly did 
Here are the results:
NEWS TRADING
1. Tue July 20, 2010 9:00am EST (NY Time) CA BOC Overnight Rate- No Trade.
2. Thu July 22, 2010 4:30am EST (NY Time) UK Retail Sales m/m – No Trade
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. Here’s the forecast:
8:30am (NY Time) US Core CPI m/m Forecast 0.1% Previous 0.1%
ACTION: USD/JPY BUY 0.3% SELL -0.1%
FOMC is going to release its short-term interest rate decision today and most analysts agree that FOMC will keep current rates unchanged especially after the series of worse than expected economic data during the past few weeks, including but not limited to housing, employment, and retail sales.
8:30am (NY Time) US Core CPI m/m Forecast 0.1% Previous 0.0%
ACTION: USD/JPY BUY 0.3% SELL -0.1%
We’ll be focusing on the Core CPI release today and our minimum tradable deviation is 0.2%; if the release number (core) increases to a minimum 0.3% then we will BUY USD (either SELL EUR/USD or BUY USD/JPY). If the CPI number decreases to -0.1% or less, we’ll SELL USD (BUY EUR/USD or SELL USD/JPY). Historically even at a difference of 0.1%, market is likely to exaggerate its move, therefore if either of our tradable releases is hit, there is about 80% of chance market will move 50 pips.
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%
RBNZ (Reserve Bank of New Zealand) will be releasing its interest rate decision today and it is widely expected that Gov. Bollard will hike rates today from the current level of 2.50% to 2.75%; here is the forecast:
5:00pm (NY Time) RBNZ Rate Decision Forecast 2.75% Previous 2.50%
ACTION: NZD/USD BUY 3.00% SELL 2.50%
10:00am (NY Time) US ISM Manufacturing PMI Forecast 54.1 Previous 53.6 ACTION: USD/JPY BUY 56.5 SELL 51.0 We’ll be looking to trade the ISM Manufacturing PMI once again today … [Read More...]
With the first time Home Buyer’s Credit ended in April, this release is likely to show a significant decline... Here is the forecast: 10:00am NY Time New Home Sales Forecast 424K … [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) is expected to leave its official interest rate once again at 1.00%, … [Read More...]
8:30am (NY Time) CA GDP m/m Forecast 0.1% Previous 0.0% ACTION: USD/CAD SELL 0.4% BUY -0.2% We’ll be focusing on the Canadian GDP month on month release, … [Read More...]
RBNZ (Reserve Bank of New Zealand) will be releasing its interest rate decision today and it is widely expected that Gov. Bollard will keep rates at the current level of 2.50%; here is the forecast: 5:00pm … [Read More...]
8:30am (NY Time) US ADV GDP q/q Forecast 3.2% Previous -0.7% ACTION: USD/JPY USD/CHF BUY 3.5% SELL 2.9% Our focus … [Read More...]
4:00pm (NY Time) RBNZ Rate Decision Forecast 2.50% Previous 2.50% ACTION: NZD/USD BUY 2.75% SELL Unchanged RBNZ is expected to leave rates unchanged at the current … [Read More...]
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