OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the US Durable Goods ex Transportation Coming out at 8:30 am eastern. This is expected at .2% and Can move the market with 1.5% in deviation however a safer trigger is more like 1.8%. This release commonly has revisions and can be greatly affected by the revisions so I will keep an eye on this as well.
In addition to the Ex Transportation also known as the Core I will be watching the Regular Durable Goods orders for any possible conflicting data. As long as both releases line up and we don’t get a revision over .4 or so we should be ok.
On this particular release a higher number will be positive for the US dollar and therefore will signal a sell on the GBP/USD pair. A lower than expected release will be negative for the US dollar and therefore will signal a buy on the GBP/USD.
The next release that will be coming out tomorrow which May provide for some small profits will be the US Existing Home Sales at 10 am eastern. I will not personally trade this as it has not moved the market very consistently however if you would like to watch It you may be able to pick up a few pips.
I have looked over a study which covers the last couple of Years and it is hard to pin down a safe trigger. I would use around .2 and expect to get around 15 or 20 pips if you are lucky. This release commonly has revisions so keep an eye on that as well.
A higher than expected number signals a sell and a lower than expected number signals a buy if you are trading the GBP/USD. As I said earlier I will not be trading this release as it is not a very sound trade.
In addition the Consumer confidence will be released at the same time which will confuse the market if it conflicts with the Existing home sales. In Fact this release could overpower the existing home sales.
Good Luck trading!!!
