Today we were watching the US GDP which came out more than expected but just missed our trigger so this was a no trade. I was surprised to see that we had quite a few that used .3 as a trigger in my trade room and some picked up close to 20 pips however the majority of them closed out with only a few pips profit. To see the video of this trade and read the transcripts follow this link.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow will be an interesting day as we have data coming out of Canada as well as the US. For those using my software we will be able to trade both of these releases and for those trading using a less sophisticated software or trying to enter manually I suggest to choose one and stick with that. The CAD data will probably be the best option.
I will start with the US data which will be released at 8:30 am Eastern. We will be watching the US PCE Core number which is expected to be .2 and the Personal Spending which is expected to be .3. There is a whole line up of US data coming out but those two are the ones I will concentrate on for the US move.
I will look for .2 in deviation on both of those numbers with the Core being the main focus between the pair. I would really like to see .2 on both of these numbers and a higher than expected number would signal a sell and a lower than expected number will signal a buy on the GBP/USD.
As for the CAD data I will be watching the GDP m/m number which is expected at .2. I will be looking for around .3 in deviation. I will be trading the EUR./CAD for this release instead of USD/CAD so that the data coming out of the US wont be a factor in the direction of the move. A higher than expected number would signify a sell and a lower than expected number will signal a buy.
