Tomorrow, Friday 09-11-09 at 9:55 AM ET the University of Michigan will be releasing two monthly reports, Consumer Sentiment and Inflation Expectations.
I did a “preview” post on the last months reports, click here for a review.
And, I also wrote a “follow up” post, click here for a review.
By reviewing those two posts and the charts, you can learn much about how to trade and what are the best currency pairs to monitor for trade set ups.
Keep this in mind, most FOREX web sites that display a FOREX Calendar show this report as coming out at 10:00 AM ET instead of 9:55 AM.
I use FOREX Factory’s Calendar, FF has provided a button that can be used to acquire news reports at about the same time they are being released. Click here for the FOREX Factory calendar.
I did a trade of currency pair EUR/JPY on the last report. Check out the charts, click here.
Lets see how the stats are for this report tomorrow:
USD U. of Michigan Confidence Stats:
Previous = 65.7
Forecast = 67.1
The last months report moved the GBP/JPY real good, EUR/JPY not quite as good, so this report I will probably be set up to trade the currency pair GBP/JPY.
In the past I was looking a difference of 10.0 between the “actual” and “forecast”, but last month the difference was only 5.4, and the “crosses” moved well enough for a trade.
Keep in mind, some of the traders get the U of M reports at 9:55 AM ET and others do not get them until 10:00 AM ET.
This report is next scheduled for release on Friday 10-16-09
I will be posting a “follow up” of this months reports in the near future.
Stay tuned!
