The Fundamental FOREX Blog

Tomorrow, Friday 03-12-10 at 9:55 AM ET the University of Michigan will be releasing two news reports, Consumer Sentiment and Inflation Expectations, which are released monthly.

The last time this report was released was on Friday, 02-19-10, I wrote a “follow up” post, click here for a review.

By reviewing last months post and the charts, you can learn much about how to trade and what are the best currency pairs to monitor for a trade set up.

Keep this in mind, most FOREX web sites that display a FOREX Calendar show this report as coming out at 10:00 AM ET instead of 9:55 AM.

I use FOREX Factory’s Calendar, FF has provided a button that can be used to acquire news reports at about the same time they are being released. Click here for the FOREX Factory calendar.

Lets see how the stats are for this report tomorrow:

USD U. of Michigan Confidence Stats:

Previous = 73.6

Forecast =  74.0

The U of M believes that “confidence” is improving just a little bit.

Here is how I am set up for tomorrow:

USD-7-55AM-03-12-10 PreLim
Looking for a 4.0 difference
Actual > Forecast = Good for USD
USD U. of Michigan Confidence
____actual_____forecast_____previous
_______________74.0________73.6
Out at 78.0 or higher – BUY EUR/USD
Out at 70.0 or lower – SELL EUR/USD

Keep in mind, some of the traders get the U of M reports at 9:55 AM ET and others do not get them until 10:00 AM ET. Check the charts for last month for an idea how the market reacts.

I did post a “follow up” of this months reports, click here to see what happened.

This report is next scheduled for release on Friday, 04-16-10 at 8:55 AM ET.

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

Stay tuned!