The Fundamental FOREX Blog

Tomorrow, 02-03-10, at 7:30 PM ET the AUD Retail Sales m/m report will be released.

Also, the AUD Building Approvals report will be released.

I did a “follow up” of my last post of the AUD Retail Sales report on Sunday, 12-06-09, click here to check it out.

The AUD Retail Sales m/m and Building Approvals reports are released by the Australian Bureau of Statistics.

Lets take a look at what is happening tomorrow:

AUD Retail Sales m/m Stats:

Previous = 1.4%

Forecast = 0.3%

AUD Building Approvals MoM is also coming out – I have noticed that the FOREX traders seem to be paying some additional attention to real estate related news reports.

So I will be paying attention to how that comes out – hopefully both reports are going in the same direction.

The “forecasts” implies that the economists are NOT feeling better about the future economy of the Australian economy.

AUD-7-30PM-02-03-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Retail Sales Trend m/m
——actual———-forecast———-previous
_______________0.3%__________1.4%
Out at 1.3% or higher – BUY AUD/JPY
Out at -0.7% or lower – SELL AUD/JPY
AUD Building Approvals m/m
________________0.0%_________5.9%

I will be looking for a 1.0% difference between the “actual” and the “forecast”, probably set up to trade the AUD/JPY again – but I will be a little more timid this time.

I did write a “follow up” post soon after this release, click here to see what happened.

The next scheduled release of this report is on Wednesday, 03-01-10 at 7:30 PM ET.

I will probably post a “preview” a day or two prior.

Past performances are not an indication of future results

So—Stay tuned!