The Fundamental FOREX Blog

Tomorrow, Monday, 08-02-10, at 9:30 PM ET the AUD Retail Sales m/m and AUD Building Approvals MoM reports will be released.

I did a “follow up” of my last post of the AUD Retail Sales report on Sunday, 07-11-10, click here to check it out.

Last time this report was released, I did enter 2 trades of the currency pair EUR/AUD – both losers!!

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 = -6.6%

Forecast = 2.1%

AUD Retail Sales m/m Stats:

Previous = 0.2%

Forecast = 0.4%

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.

Here is how I am set up for today:
AUD-9-30PM-ET-08-02-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Building Approvals m/m
——actual———-forecast———-previous
_______________2.1%________-6.6%
Out at 3.1% or higher – SELL EUR/AUD
Out at 1.1% or lower – BUY EUR/AUD
AUD Retail Sales m/m
_______________0.4% ________0.2%
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 EUR/AUD this time.

I did write a “follow up” post soon after this release, click here to see what happened.

The next scheduled release of the Building Approvals report is on Tuesday, 08-03-10 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!