OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have UK CPI (MoM) coming out at 4:30am eastern. The expected number is .3% and my desired trigger is .2% and is rarely hit however is a fairly safe number and will provide for a nice move.
I would expect to see around 30 pips in movement however depending on market conditions at the time of the release it could be more. I have seen it move as much as 60 pips.
A higher number signals a buy on the GBP/USD and a lower than expected number signals a sell.
The next release I will watch is the Retail Sales. This will be fairly complicated because there is a lot of data coming out all at once. We have the PPI data coming out as well so this is what I will do.
The Retail sales Less autos is expected at -.2% and is comming out at 8:30am eastern time. My trigger for this release is around 1.0%. I will also watch the Advanced Retail sales for conflicting data. With both of these releases a higher than expected number signals a sell on the GBP/USD.
What will complicate this is the PPI data. The PPI ex Food and Energy is expected at .1% and the PPI is expected at -.5%. these will also have a short biased on the GBP/USD if they come out higher than expected and a long biased if they come out less than expected.
The two releases that will have my attention are the Retail Sales Less Autos and the PPI ex Food and Energy. These two releases Have to be agreeing or there will be no trade. I will keep a close Eye on the PPI and the Advanced retail sales also. But they will Not be my focus.
Be very careful with the second trade we have. I would suggest trade demo or very small lots. It could be a huge mover if everything lines up but it could also be very choppy if things are conflicting.
Good Luck trading!!!
