Here’s what we are looking for in tomorrow’s economic reports (March 9, 2020) — Good Luck Trading!
1. GE Trade Balance and Industrial Production (03:00 ET) Bearish EUR — Sharp rise in PMI Manufacturing index
We have just posted our weekly news trading calendar for the week of March 9, 2020. You can download the pdf and excel file by clicking on the Read More Link. These are soft biases on economic data and not trades that we directly trade or track like BK Swing and News.
Here’s what we are looking for in tomorrow’s economic reports (January 9, 2020) — Good Luck Trading!
1. AU Trade Balance (21:30 ET) Bullish AUD — Potential upside surprise given rise in PMI manufacturing index
2. Chinese Inflation Data (20:30 ET) No Trade — Chinese is hard to predict but market moving
3. German Trade and Current Account Balance (02:00 ET) Bearish EUR — Potential downside surprise given lower German manufacturing PMI index
Here’s what we are looking for in tomorrow’s economic reports (Sept 9, 2019) — Good Luck Trading!
1. German Trade and Current Account Balance (02:00 ET) Bearish EUR — We are looking for weakness because despite minor rebound in PMI manufacturing, it is still deep in contraction mode
2. UK Industrial Production & Trade Balance (04:30 ET) No Trade — Poteenntial downside surprise as manufacturring PMI index drops to weakest level since 2012
Here’s what we are looking for in tomorrow’s economic reports (August 9, 2019) — Good Luck Trading!
1. Japanese GDP Q2 (19:50 ET) Bearish JPY — Potential downside surprise given lower retail sales
2. RBA Monetary Policy Statement (21:30 ET) Bearish AUD — While RBA statement was more neutral, the details could be less optimistic
3. German Trade Balance (02:00 ET) Bullish EUR — Potential upside surprise given rise in German manufacturing PMI
4. UK Industrial Production (04:30 ET) Bearish GBP — Trade balance improved slightly but retail sales were significantly weaker in Q2
5. CAD Employment Report (08:30 ET) Bullish CAD — Potential upside surprise given rise in employment component of IVEY PMI
6. US PPI (08:30 ET) Bearish USD — Potential downside surprise given the decline in oil and gas prices
Here’s what we are looking for in tomorrow’s economic reports (May 9, 2019) — Good Luck Trading!
1. CAD Trade Balance (08:30 ET) Bullish CAD – Potential strength given uptick in IVEY PMI
2. US PPI and Trade Balance (08:30 ET) Bullish USD – Potential strength given rise in oil prices and manufacturing activity
AUD/USD – 9 Day Fade?
9 Trading days have past without a down day for AUD/USD. This is the longest stretch of gains for the currency pair in 2 years and the last time it occurred in October 2013, the move extended for 11 days before AUD/USD had a down day and even then there was one more push before the currency pair topped out. So while fading a 9 day move in AUD/USD is tempting, it should only be done ahead of or on the back of data AND if you believe Australian/Chinese or U.S. data will be negative for the pair. The Australian dollar is in play this week. The currency has been performing well because manufacturing activity accelerated, retail sales increased and most importantly gold and iron ore prices turned higher. Higher interest rates or carry currencies are also in demand as the U.S. dollar weakens. However recent developments in commodity prices along with Australian/Chinese data makes the outlook for AUD challenging. Next week’s Chinese trade balance and Australian employment numbers should go a long way in setting expectations for Chinese/Australian growth. In the short span of 7 trading days, AUD/USD climbed from below 70 cents to above 73 cents. Not only is this a very strong move, a reversal or turnaround is likely if these economic reports are weak.
Technically, there is a double bottom in place in AUD/USD. Resistance in AUD/USD is at near the August highs of 0.7450. We expect the currency pair to extend to that level. A firm close above 75 cents would be needed to open the door for a move up to 0.77 cents. Support is at 0.7215, a former support turned resistance and now back to support level (see chart).
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Here’s what we are looking for in Monday’s economic reports (Feb 9, 2015) — Good Luck Trading!
1. German Trade Balance (2am ET) No Trade — Tough to predict this month because decline in manufacturing PMI index and industrial production offset by rise in factory orders and lower oil
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We have just posted our weekly news trading calendar for the week of February 9, 2014. You can download the pdf and excel file by clicking on the Read More Link. These are soft biases on economic data and not trades that we directly trade or track like BK Swing and News.
The pdf file can be downloaded using this link PDF of Weekly Calendar Calls for Week of Feb 9, 2014
The excel file can be downloaded using this link Excel of Weekly Calendar Calls for Week of Feb 9, 2014
