FX TRADING STRATEGY FOR NOV 30
1. Thursday, November 30th, 2006 (8:30 am New York Time) USA
We have a few U.S. reports coming out. Core PCE Price Index is going to be the one where most of the focus will be in my opinion. It's widely expected to come out at 0.1% versus 0.2% previous month. If it comes out at 0% or lower, I may possibly go long on GBP/USD. If it comes out at 0.3% or higher, I may possibly go short on GBP/USD. Will watch for Personal Spending and Personal Income, and if there are any large conflicts, I'll exit immediately.
2. Thursday, November 30th, 2006 (10:00 am New York Time) USA
We have Chicago PMI coming out. It's expected to come out at 54.5 If it comes out at 51.8, it would signify the lowest reading in over 3 years, and would be bad for the dollar, so I may possibly go long on GBP/USD. If it comes out at 58 or higher, I may either possibly go short on GBP/USD, or I may take advantage of the spike down to get a better entry on the long GBP/USD. This will heavily depend on where the price is at before the report and how the reports at 8:30 am turn out.
3. Thursday, November 30th, 2006 (6:30 pm New York Time) JAPAN
We have Core CPI coming out of Japan. We have so many numbers coming out at the same time. The most important ones are annual Tokyo CPI ex Food & Energy, and National CPI ex Food and Energy. The big challenge is that we have a separate number for x Food, seperarte number for ex Energy, separate for Tokyo, Separate for National. Then we have National SA numbers, and headline numbers, add some month over month numbers to that, and we have about 10 CPI indicators that have some weight. These Japanese are nuts :) I'll be watching all the numbers, and if I see some big deviations from consensus, especially on the annual core numbers out of Tokyo and National, I may possibly go long or short on USD/JPY. Sorry, I can't be too specific about this report, will just have to watch it and play it by ear.
We have a few U.S. reports coming out. Core PCE Price Index is going to be the one where most of the focus will be in my opinion. It's widely expected to come out at 0.1% versus 0.2% previous month. If it comes out at 0% or lower, I may possibly go long on GBP/USD. If it comes out at 0.3% or higher, I may possibly go short on GBP/USD. Will watch for Personal Spending and Personal Income, and if there are any large conflicts, I'll exit immediately.
2. Thursday, November 30th, 2006 (10:00 am New York Time) USA
We have Chicago PMI coming out. It's expected to come out at 54.5 If it comes out at 51.8, it would signify the lowest reading in over 3 years, and would be bad for the dollar, so I may possibly go long on GBP/USD. If it comes out at 58 or higher, I may either possibly go short on GBP/USD, or I may take advantage of the spike down to get a better entry on the long GBP/USD. This will heavily depend on where the price is at before the report and how the reports at 8:30 am turn out.
3. Thursday, November 30th, 2006 (6:30 pm New York Time) JAPAN
We have Core CPI coming out of Japan. We have so many numbers coming out at the same time. The most important ones are annual Tokyo CPI ex Food & Energy, and National CPI ex Food and Energy. The big challenge is that we have a separate number for x Food, seperarte number for ex Energy, separate for Tokyo, Separate for National. Then we have National SA numbers, and headline numbers, add some month over month numbers to that, and we have about 10 CPI indicators that have some weight. These Japanese are nuts :) I'll be watching all the numbers, and if I see some big deviations from consensus, especially on the annual core numbers out of Tokyo and National, I may possibly go long or short on USD/JPY. Sorry, I can't be too specific about this report, will just have to watch it and play it by ear.
posted by Naveen Pantera at 9:34 AM
<< Home