Henry Liu | Mar 09, 2013 11:34AM ET
We´ll be getting the U.S. Core Retail Sales (and Retail Sales) figure out tomorrow. US Core Retail Sales will be the highlight for the week, especially after last Friday’s NFP release of 236K new jobs created. Since there is a direct correlation with the spending (Retail Sales) and the Jobs figure, we are likely to see a strong release as well. And as high impact news releases are concerned, Retail Sales make up about 2/3 of U.S. GDP (Gross Domestic Product); Core Retail Sales report excludes Auto sales which comprises 20% of total retail sales. Therefore, this is indeed a high impact and market moving event.
Here´s the forecast: The Trade Plan
8:30am (NY Time) US Core Retail Sales Forecast 0.2% Previous 0.2%
DEVIATION: 0.5% (BUY USD 0.7% / SELL USD -0.3%)
We will trade this news release using after news retracement method, I will pay attention to both headline and Core Retail Sales figures, but my focus will be on the Core figure. Remember to use the recommended pair above and verify the pairs to trade 1 minute before the release, or you can just use the default pair of USD/JPY or EUR/USD.I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EUR/USD. Outlook Score DEFINITION:
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