The Fundamental FOREX Blog

Today, 03-01-10, at 7:30 PM ET the AUD Retail Sales m/m and AUD Building Approvals MoM and YoY reports will be released.

I did a “follow up” of my last post of the AUD Retail Sales report on Wednesday, 02-10-10, 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 today:

AUD Building Approvals m/m Stats:

Previous = 2.2%

Forecast = 0.6%

AUD Retail Sales m/m Stats:

Previous = -0.7%

Forecast = 1.0%

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 – forecasts show them to be in conflict, could be tricky.

Here is how I am set up for today:
AUD-7-30PM ET-03-01-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Building Approvals m/m
——actual———-forecast———-previous
________________0.6%________2.2%
Out at 1.6% or higher – BUY AUD/JPY
Out at -0.4% or lower – SELL AUD/JPY
AUD Retail Sales m/m
________________1.0% ________-0.7%
Watch that both go same way!!

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 Tuesday, 03-30-10 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!