Tomorrow, Tuesday, 03-30-10, at 7:30 8:30 PM ET the AUD Retail Sales m/m and AUD Building Approvals MoM and YoY reports will be released.
Along with the AUD Private Sector Credit m/m report, released by The Reserve Bank of Australia.
I did a “follow up” of my last post of the AUD Retail Sales report on Monday, 03-08-10, click here to check it out.
Last time this report was released, the currency pair AUD/NZD did not move as I had expected – suffered 3 losing trades – so I am switching to the currency pair AUD/JPY and I will be a little more guarded.
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 = -0.7%
Forecast = 0.3%
AUD Retail Sales m/m Stats:
Previous = 1.2%
Forecast = 0.3%
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-6-30PM-03-30-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Building Approvals m/m
——actual———-forecast———-previous
________________2.2% ________-7.0%
Out at 3.2% or higher – BUY AUD/JPY
Out at 1.2% or lower – SELL AUD/JPY
AUD Retail Sales m/m
________________0.3% ________1.2%
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, 05-04-10 at 9:30 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!
