On Tuesday, 10-27-09, at 10:00AM ET the USD Consumer Confidence for October will be released along with one other US economic news release. – the USD Richmond Fed Manufacturing Index for October.
The Consumer Confidence appears to have the greatest impact on the economy.
The last “follow up” was posted on Friday, 08-28-09, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
And the Richmond Fed Manufacturing Index is released by the Federal Reserve Bank of Richmond.
Lets take a look at what is going on with this news release:
USD Consumer Confidence Stats:
Previous = 53.1
Forecast = 54.1
The “forecast” implies that the public may be feeling better about the future economy of the USA.
I am looking for a 5.0 difference between the “actual” report and the “forecast”, and will probably set up to trade the currency pair GBP/USD – if the “actual” is lower then “forecast” by 5.0 or more I will execute a “BUY” trade a minute or two after the market has settled out. Of course, a “SELL” trade if the “actual” is higher then the “forecast”
Check out the last report for an idea how the market reacts to the “actual” outcome of the report.
The next scheduled release of this report is on Tuesday, 11-24-09 at 11:00 AM ET.
I will probably post a “preview” a day or two prior.
Past performances are not an indication of future results
I did write a “follow up” post soon after this release, click here to see what happened.
So—Stay tuned!
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