US Core Retail Sales is usually a good tradable release and considering the blow out figure we had in the NFP last week, we should expect a very strong reading today, one that could drive USD much stronger for the short-term.
Here´s the forecast:
8:30am (NY Time) US Core Retail Sales Forecast 0.2% Previous 0.7%
The Trade Plan
We will trade this news release using after news retracement method, I will pay attention to both headline and Core Retail Sales figures, but my focus will be on the Core figure. Remember to use the recommended pair above and verify the pairs to trade 1 minute before the release, or you can just use the default pair of USDJPY or EURUSD.
For more information on my trading method: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
US Core Retail Sales | August 12, 2016 | Forex News Trading
August 8, 2016 by Leave a Comment