On Tuesday, 01-26-10, at 10:00AM ET the USD Consumer Confidence report which will be released along with two other US economic news releases.
USD – Housing Price Index MoM
USD – Richmond Manufacturing Index
The Consumer Confidence appears to have the greatest impact on the economy.
The last “follow up” was posted on Saturday, 01-02-10, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
The USD – Housing Price Index MoM is released monthly by FHFA (Federal Housing Finance Agency)
The USD – Richmond Manufacturing Index is released monthly 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 = 52.9
Forecast = 53.6
The “forecast” implies that the economists may be feeling better about the future economy of the USA.
Here is how I am set up for tomorrow:
USD-8-00AM-01-26-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual———-forecast———-previous
________________53.6________52.9
out at 58.6 or higher – BUY USD/CAD
out at 48.6 or lower – SELL USD/CAD
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”
Check out the last report for an idea how the market reacts to the “actual” outcome of the report.
I did post a “follow up” soon after, click here to see what happened.
The next scheduled release of this report is on Tuesday, 02-23-10 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
So—Stay tuned!
