Tomorrow there will be 2 economic news reports released, I will be monitoring – the US Core Durable Goods order and the Durable Goods order.
If both come out in the same direction and beyond the “forecast” far enough – a good trade may be the order of the day.
I did not enter a trade last month with this report.
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Currently these titles are available:
“Trade New Zealand Retail Sales Report – M over M – News Report” NEW
“Trade US Core Durable Goods Orders – News Report”
“Trade Australian Gross Domestic Product – Q over Q – News Report”
“Trade the British Gross Domestic Product – Q over Q – News Report”
“Trade Canadian IVEY Purchasing Mangers Index – M over M – News Report”
Click here FOREX Trade the News… What are the Odds?
Tomorrow, Thursday, 01-26-12 at 8:30 AM ET, the Census Bureau will release the monthly reports USD Core Durable Goods Orders MoM and USD Durable Goods Orders MoM.
Also 1 other news release:
USD Unemployment Claims
Released monthly by the Department of Labor
I did not enter a trade last month!!
My last “follow up” post concerning these USD reports was on Saturday, 12-24-11, click here for a review.
Here is how the reports for this month are set up:
USD – Core Durable Goods Orders m/m – Stats
Previous = 0.3%
Forecast = 0.9%
USD – Durable Goods Orders m/m – Stats
Previous = 3.7%
Forecast = 2.1%
Here is how I am set up for tomorrow:
USD-8-30AM-ET-01-26-12
Looking for a 1.5% difference
Actual > Forecast = Good for USD
USD Core Durable Goods Orders m/m
——actual——–forecast——–previous
_______________0.9%________0.3%
out at 2.4% or higher – SELL GBP/USD
out at -0.6% or lower – BUY GBP/USD
It appears that the economists believe that durable goods orders and core durable goods orders are in conflict again this month, possible conflict – check the FOREX Calendars.
The Core Durable Goods Orders appear to have the greatest impact on the currency market, but if they both do not come out moving in the same direction, either positive or negative, there can be a conflict, who knows what may happen then.
I did post a “follow up” report of the results, click here to see what happened.
The next scheduled release of these two reports on Tuesday, 02-28-12 at 8:30 AM ET.
Stay tuned!
P.S. If you are interested in how I set up for a news trade – click on the “Training” link above for several videos.
P.P.S. If you are interested in the books I studied and recommend – click on the “FOREX Books” link above.
