5:30am UK BOE Inflation Report / BOE Gov. King Speaks
8:30am US Core Retail Sales 0.1%(E) -1.0%(P) 0.5%(S) 50M
E = Expected
P = Previous
S = Surprise Factor
M = Expected Movement in Pips if surprise factor is reached
***
NEWS TRADING
Wednesday May 13, 2009
[5:30am NY Time]
UK BOE King Speaks / BOE Inflation Report
Governor King will host a press conference immediately after the
release of it's quarterly Inflation report which provides valuable
views on future monetary policy and future outlook of UK's economy.
This report is usually high impact as the market get first hand
information on BOE's projection for next two years of economic
growth.
I will recommend to wait for the release and then follow market
sentiment immediately after the release. Most likely if the market
is genuine surprised by this report, the impact could last for
several hours to several sessions, therefore a "Wait-and-see" type
of attitude should be key to trade this report.
[8:30am NY Time]
US Retail Sales Core BUY -0.4% SELL 0.6% EUR/USD
Since we have both retail sales coming out at 8:30am, we have to
make sure there is no conflict with the numbers between the headline
and core releases.
Here is the Definition from ForexFactory:
(Retail Sales Core)
Derivative of Retail Sales that excludes the Automobile Sales
component. Automobile Sales make up roughly 25% of Retail Sales,
but they can be very volatile from month to month and can distort
the picture. Retail Sales with the exclusion of this volatile
component is thought to be a better indicator of the underlying
trend in consumer spending.
(Special Message on Fundamental News Trading)
Currency Market is driven by fundamental news. News releases are
what determines the long term and short term trends of the market.
Although technical analysis has its part in Forex trading, it is
important to understand that market does not move just because a
technical breakout or a candlestick pattern. By understanding
fundamentals, a trader will have a powerful edge over the market in
the mid to long term.
If you like to learn more on how to take advantage of fundamentals
in your trading, please download a copy of my E-Book: Definitive
Guide to Fundamental News Trading.
(Special Message on Fundamental News Trading)
Currency Market is driven by fundamental news. News releases are
what determines the long term and short term trends of the market.
Although technical analysis has its part in Forex trading, it is
important to understand that market does not move just because a
technical breakout or a candlestick pattern. By understanding
fundamentals, a trader will have a powerful edge over the market in
the mid to long term.
If you like to learn more on how to take advantage of fundamentals
in your trading, please download a copy of my E-Book: Definitive
Guide to Fundamental News Trading.
In this book, you'll learn:
* 3 Basic Methods to trade news Releases regardless of broker.
* How to Profit from Long Term Sentiment...
* How to add additional 30~40 pips in every trade...
* How to always stay on the "right" side of the market...
* And much more...
You'll also get a complimentary 30-Day access to my Weekly Outlook
program, where I'll give you my unbiased analysis of next week's
fundamental trend, showing you how to apply what you learned from
my book in a real, practical format. This is like an "on-the-job"
training.
I wish you all of the best, until tomorrow...
Henry Liu
NewsProfiteer.com
16275 SW 88th Street
Unit 118
Miami, FL 33196
United States
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