On Tuesday, 03-30-10, at 10:00AM ET the USD Consumer Confidence report will be released.
The last “follow up” was posted on Friday, 02-26-10, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
Lets take a look at what is going on with this news release:
USD Consumer Confidence Stats:
Previous = 46.0
Forecast = 50.1
The “forecast” implies that the economists may be feeling a little better about the future economy of the USA.
Here is how I am set up for tomorrow:
USD-8-00AM-03-30-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual———-forecast———-previous
________________50.1_________46.0
out at 55.1 or higher – BUY USD/JPY
out at 45.1 or lower – SELL USD/JPY
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, 04-27-10 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!
