Tomorrow, Thursday 10-01-09 at 8:30 AM ET, the USD Initial Jobless Claims and the Continuing Jobless Claims reports will be released.
These two reports will be released along with some other economic reports that may have an impact on the currency market. These additional reports are:
USD Personal Income
USD Personal Spending
USD Personal Consumption Expenditure Deflator (YoY)
USD Personal Consumption Expenditure Core (MoM)
USD Personal Consumption Expenditure Core (YoY)
These reports are released by the Bureau of Economic Analysis.
I have no idea how this will affect the FOREX market. I will be watching the employment reports primarily and watching to see that the other five reports are supportive of the employment reports.
These 2 reports are released by the Department of Labor on a weekly basis.
I believe that the Initial Claims and the Continuing Claims have the greater impact on the currency market.
Let’s set this up for tomorrow.
USD Initial Jobless Claims stats:
Previous = 530K
Forecast = 531K
Looks like the economists believe claims went down last week – maybe!
Continuing Jobless Claims stats:
Previous = 6138K
Forecast = 6163K
USD Personal Spending m/m stats:
Previous = 0.2%
Forecast = 1.2%
USD Personal Income m/m stats:
Previous = 0.0%
Forecast = 0.1%
Personal Income and Spending are “forecast” to be an improvement for the US economy, but this is in conflict with Employment news releases – anything can happen here, should be fun to watch.
So, I will probably set up to trade the USD/JPY if both reports come out in the same way.
The next USD-Unemployment Claims report is coming out on Thursday 10-08-09 at 8:30 AM ET. I should be posting a “preview” a day or 2 prior.
I will be posting a follow up soon after the conclusion of these reports.
Keep this mind, past performances are not an indication of future results.
Stay tuned!
