In our last trade call, we were watching the US CPI report. Our focus was the CPI Ex. Food & Energy figure and we were looking for 0.2% in deviation. We had zero deviation, so our trigger was not struck this morning. However, we did have some data that came out on the housing numbers that were slightly USD negative and affected the GBPUSD accordingly. We saw a slight move up on the GBPUSD. We have also been building a position on the USD/CAD long so we are looking for a USD positive move on the CAD right now. We had some Canadian data that came out supporting a long USDCAD move. The data was somewhat dispelled by the negative US data so overall we had a pretty uneventful morning.
To see a video of today’s trade, click on the link below:
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OUR NEXT LIVE ON THE NEWS TRADE CALL Coming up tomorrow, we’re going to be trading some data coming out of the UK. We’ve got the Retail Sales that will be released at 4:30 am EDT. Expectation on this is 0.1%. The safe trigger we are going to look for is 0.5%, and expect to see about 30 pips of movement out of this. There are a couple different components involved in this. Our focus will be on the Retail Sales All Retailing (MoM) figure, which will be Row 1 of the RSS. Again, this is expected at 0.1%, and we will be looking for a deviation of 0.5%. For this release, we’re going to be trading the GBPUSD.
The GBPUSD has been an obvious range, easily identifiable on the four-hour chart. Intermediate tops around 2.0436 with the highs reaching around the 2.0474 level. On the low side, the intermediate low is 2.0289 with the overall lows at 2.0257. Depending on where the market is within this range, that could play a factor in how this market is going to move based on the data we receive. This release met our safe trigger last month, and we had traders report profits of up to 25 pips on this release. To see a video of last month’s trade, click on the link below: Good Luck!!!!
