The Fundamental FOREX Blog

On Tuesday, 02-23-10, at 10:00AM ET the USD Consumer Confidence report which will be released along with one other US economic news release.

USD – Richmond Manufacturing Index report

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

The last “follow up” was posted on Sunday, 01-31-10, click here for a review.

The Consumer Confidence is released by The Conference Board, Inc.

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 = 55.9

Forecast = 55.0

The “forecast” implies that the economists may be feeling a little negative about the future economy of the USA.

Here is how I am set up for tomorrow:

USD-8-00AM-02-23-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual———-forecast———-previous
________________55.0________55.9
out at 60.0 or higher – BUY USD/JPY
out at 50.0 or lower – SELL USD/JPY
USD Richmond Manufacturing Index
_________________0__________   -2

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/JPY – 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 “follow up” 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, 03-30-10 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!