The Fundamental FOREX Blog

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

Along with 3 other reports:

AUD Current Account
AUD Private Sector Credit m/m
JPY Average Cash Earnings y/y

I did a “follow up” of my last post of the AUD Retail Sales report on Thursday, 08-05-10, click here to check it out.

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

The AUD Retail Sales m/m , Building Approvals and Current Account reports are released by the Australian Bureau of Statistics.

The AUD Private Sector Credit m/m report is released monthly by the Reserve Bank of Australia.

The JPY Average Cash Earnings y/y is released monthly by Ministry of Health, Labour and Welfare.

Lets take a look at what is happening Monday:

AUD Building Approvals m/m Stats:

Previous = -3.3%

Forecast = -0.6%

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-08-30-10
Looking for a 1.0% difference
Actual > Forecast = Good for AUD
AUD Building Approvals m/m
——actual———-forecast———-previous
_______________-0.6%________-3.3%
Out at 3.1% or higher – BUY AUD/JPY
Out at 1.1% or lower – SELL AUD/JPY
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 AUD/JPY currency pair again 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 Monday, 10-04-10 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!