US Core Retail Sales m/m 07/16/12 (+31 pips)

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8:30am (NY Time) US Core Retail Sales Forecast 0.1% Previous -0.4%

Definition
“(Retail Sales Core) Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.”

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Update
This is a winning trade with 31 pips of profit on a BUY GBP/USD, entry at 1.5545 and take profit at 1.5576, based on fundamental news trading method.

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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