UK Retail Sales m/m 07/23/09

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4:30am (NY Time) UK Retail Sales Forecast 0.4% Previous -0.6%

Definition
It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

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Update
Retail Sales came out much better than expected at 1.2%, but prior number was revised down from -0.6% to -0.9%. Because of this conflict of releases, market initially only spiked up about 32 pips. I looked at the market sentiment and decided to SELL instead of BUY and was able to pick up some good pips from GBP/JPY pair counting on the break above the 156.00 at the time… Watch this video as I explain the reason behind this trade LIVE…

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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