TRADING OPPORTUNITY TONIGHT
There is an opportunity to trade tonight when the AUD Retail
Sales is released at 7:30pm EST. Your focus should be on the
AUD Retail Sales (MoM) figure, which is expected to be 0.6%.
We have placed a safe trigger of 0.4% for this release. We
have historically seen moves of around 25 pips when this
release has had a deviation of 0.4% or higher. We will not
have the Live Trade Room open for this trade, but I wanted to
make you aware of the opportunity.
Also, the Reserve Bank of Australia is coming out with their
interest rate statement tonight at 10:30 pm EST. It is
anticipated that they will raise interest rates by .25%. This
is what has been driving the AUD/USD up over the last few days,
and so we should see some volatility when this news is
released. There is a higher probability for additional
volatility if they do not change rates, as the market has
already priced in the expected rate hike. Again, we are not
trading this in the Live Trade Room, but I wanted to make you
aware as this will have an impact on any trades you may be in
on the AUD/USD.
Good Luck!!!!
