Tomorrow, Friday 10-16-09 at 9:55 AM ET, the University of Michigan will be releasing two news reports, Consumer Sentiment and Inflation Expectations, which are released monthly.
The last time this report was released was on Friday, 09-11-09, I wrote a “follow up” post, click here for a review.
By reviewing last months post and the charts, you can learn much about how to trade and what are the best currency pairs to monitor for a trade set up.
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.
Lets see how the stats are for this report tomorrow:
USD U. of Michigan Confidence Stats:
Previous = 73.5
Forecast = 73.6
The last months report moved the GBP/JPY real good, EUR/JPY not quite as good, but this report I will probably be set up to trade the currency pair EUR/USD.
Last month I was looking for a difference of 10.0 between the “actual” and “forecast”, but last month the difference was only 3.1, and 3.0 difference from the “forecast” revision, all six currency pairs I watch had moved enough for a trade, the problem being which pair to trade. Some better than others, check last months results.
Again, 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. Check the charts for last month to get an idea how the market reacts.
I will be posting a “follow up” of this months reports in the near future.
This report is next scheduled for release on Friday, 11-11-09 at 10:55 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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