US Core Retail Sales is a high impact tradable release but since it is scheduled to be released with the Core CPI, market will undoubtedly look the the CPI first and then the Retail Sales as CPI is probably one of the most important economic indicator for the economy… However, in the absence of a surprise in CPI front, we’ll then focus on the Retail Sales instead.
Here´s the forecast:
8:30am (NY Time) US Core Retail Sales Forecast 0.5% Previous 0.0%
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 | May 12, 2017 | Forex News Trading
May 7, 2017 by Leave a Comment