Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
Just a quick short update today as we're still in somewhat of a wait and see mode. The bounce on EU and GU may be topping out for a turn lower, but we'll need to see stocks top out as well to get things moving. We didn't really get any clear inidication one way or another on Tuesday, so we'll need another day for things to clear up more. I am starting to tilt over into abandoning shorts and flipping long, but I'm not fully convinced yet.
In news Wednesday:
0430 UK Claimant Count Change (20K expected) - This number usually pushes the GBP/USD around fairly nicely, but it's coming out an hour before the BoE Inflation report which could pose problems. I'd look for a +/- 10K trigger to trade this (higher is a sell, lower is a buy). I'd expect 30-40 pips, but you'll want to get out before the report at 0530.
0530 BoE Inflation Report - Here we'll get some insight into future monetary policy biases going forward from the BoE. I have a sneaky feeling this report will highlight some inflationary pressures and be somewhat bullish based on commentary from their interest rate statement last week. Typical speech setup where hawkishness will lead to strength, and dovishness will lead towards weakness for the GBP/USD, but it's hard to quantify and preview precisely.
1645 NZ Retail Sales - I don't like the release coming out at then end of a US Banking holiday. I doubt we'll see that good of a trade here, so I'm skipping it.
1930 AU Employment Change (-10K expected) - A 15K deviation should be enough to move the AUD/USD 40 pips. More of a move on something much larger is possible as well.
If it comes out at 5K or higher, AUD/USD should rally 40 pips.
If it comes out at -25K or lower, AUD/USD should fall 40 pips.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only.
To our success!
Sir Pipsalot
Just a quick short update today as we're still in somewhat of a wait and see mode. The bounce on EU and GU may be topping out for a turn lower, but we'll need to see stocks top out as well to get things moving. We didn't really get any clear inidication one way or another on Tuesday, so we'll need another day for things to clear up more. I am starting to tilt over into abandoning shorts and flipping long, but I'm not fully convinced yet.
In news Wednesday:
0430 UK Claimant Count Change (20K expected) - This number usually pushes the GBP/USD around fairly nicely, but it's coming out an hour before the BoE Inflation report which could pose problems. I'd look for a +/- 10K trigger to trade this (higher is a sell, lower is a buy). I'd expect 30-40 pips, but you'll want to get out before the report at 0530.
0530 BoE Inflation Report - Here we'll get some insight into future monetary policy biases going forward from the BoE. I have a sneaky feeling this report will highlight some inflationary pressures and be somewhat bullish based on commentary from their interest rate statement last week. Typical speech setup where hawkishness will lead to strength, and dovishness will lead towards weakness for the GBP/USD, but it's hard to quantify and preview precisely.
1645 NZ Retail Sales - I don't like the release coming out at then end of a US Banking holiday. I doubt we'll see that good of a trade here, so I'm skipping it.
1930 AU Employment Change (-10K expected) - A 15K deviation should be enough to move the AUD/USD 40 pips. More of a move on something much larger is possible as well.
If it comes out at 5K or higher, AUD/USD should rally 40 pips.
If it comes out at -25K or lower, AUD/USD should fall 40 pips.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only.
To our success!
Sir Pipsalot
Last edited: