The Fundamental FOREX Blog

On Tuesday, 11-24-09, at 10:00AM ET the USD Consumer Confidence report will be released along with three other US economic news releases -

USD Richmond Fed Manufacturing Index
USD Housing Price Index MoM
USD Housing Price Purchase Index QoQ

The Consumer Confidence appears to have the greatest impact on the economy.

The last “follow up” was posted on Thursday, 10-29-09, 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

The FHFA – Federal Housing Finance Agency is released by FHFA.

Lets take a look at what is going on with this news release:

USD Consumer Confidence Stats:

Previous = 47.7

Forecast = 47.6

The “forecast” implies that the public may not be feeling better about the future economy of the USA.

Last month the USD involved currency charts that I watch moved in the wrong direction for the 1st eight minutes – and I got caught with two bad trades with currency pair GBP/USD in that eight minute period.

Again, I will be looking for a 5.0 difference between the “actual” report and the “forecast”, this time I will probably set up to trade the currency pair USD/CAD – if the “actual” is lower then “forecast” by 5.0 or more I will execute a “SELL” trade a minute or two after the  market has settled out. Of course, a “BUY” trade if the “actual” is higher then the “forecast”

This time I will be sure that the chart is moving in the correct direction!!!

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, 12-29-09 at 10:00 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!