FX Trading Signals for Jan 12
1. Friday, January 12th, 2007 (8:30 am New York Time) USA
We have Import Prices and Retail Sales coming out of the U.S. The Core Retail Sales, also known as Retail Sales Less Autos, is going to be the main number that I am going to be focusing on. Most consensus on this report fall in between 0.4% to 0.6% range, 0.5% being the average. If this number comes out at 0.8% or higher, it would be good for the dollar short-term, and I may possibly go short on GBP/USD. If this number comes out at 0.2% or lower, it would be bad for the dollar short-term, and I may possibly go long on GBP/USD. If this report goes against the market sentiment that develops during London Session, that may mean a quick move of 30 pips or so. If this report goes together with the market sentiment, and there are not too many conflicts on the import prices and headline retail sales, then we may see a move of as much as 70-80 pips. Let's see what happens. Where the price is at before the report will play a big difference.
We have Import Prices and Retail Sales coming out of the U.S. The Core Retail Sales, also known as Retail Sales Less Autos, is going to be the main number that I am going to be focusing on. Most consensus on this report fall in between 0.4% to 0.6% range, 0.5% being the average. If this number comes out at 0.8% or higher, it would be good for the dollar short-term, and I may possibly go short on GBP/USD. If this number comes out at 0.2% or lower, it would be bad for the dollar short-term, and I may possibly go long on GBP/USD. If this report goes against the market sentiment that develops during London Session, that may mean a quick move of 30 pips or so. If this report goes together with the market sentiment, and there are not too many conflicts on the import prices and headline retail sales, then we may see a move of as much as 70-80 pips. Let's see what happens. Where the price is at before the report will play a big difference.
posted by Naveen Pantera at 8:42 AM
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