Profit Mongers @ 6:20 AM, Friday January 28 2011
Hello again Traders,
One more trade to finish off the week, next week
0830 US GDP Annualized Advanced (3.5% expected,2.6% prior,2.9% to 5.4% range)
Affliated Reports:
US GDP Price Index (1.6% exptected, 2.1% prior, 0.7% to 2.2% range)
US Core PCE q/q (0.4% expected, 2.1% prior, 0.3% to 0.5% range)
US Personal Consumption (4.0% expected, 0.5% prior, 1.8% to 4.4%)
Estimates have gone up this month and in general this release is expected to show that the economy in the US has shown some promising signs the past quarter, so this could set the market up for a disappointment if the numbers are not so strong. I think that a slightly tighter positive trigger could preform well on this, since the estimates have moved higher, if the number beats the estimates the market will like it, back in August a +0.2 caused a 50 pip move in the USDJPY over 5 minutes.
If it comes out at 3.8% or higher, USD/JPY should rally 30 - 40 pips.
If it comes out at 3.1% or lower, USD/JPY should fall 30 -40 pips.
Futures traders can also trade the EMini S&P on this release.
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