Feb 212020

US will be releasing its Flash Manufacturing PMI tonight at 2245H.

From previous release of 51.9, analysts are expecting a slow down to 51.5. Expectation of the market is for US to release a weak number.

If USD goes down, I’ll buy USD against AUD, NZD, EUR, GBP or JPY.

If USD goes up, I’ll just go to sleep.

Feb 212020

Canada’s Retail Sales is coming at 2130H (GMT+8)

Previous data came out 0.2. Analysts expecting 0.4. Increase in data may mean that there may be an improvement.

If CAD goes up, I’ll short this against the USD. Note that oil started its descent last night so any appreciation on CAD may be short-lived because of its correlation.

If CAD goes down, I’ll buy this against AUD, NZD, EUR, GBP or JPY.

Take note of previous trades on EUR and GBP today. Be careful not to double positions on these currencies when trading CAD. Including the counter currency of your current active positions.

UK PMIs Coming

 Posted by at 12:47 PM  FX Market
Feb 212020

UK PMIs coming at 1730H (+8GMT)

UK Flash Manufacturing PMI 49.7
UK Flash Services PMI 53.4

Market expectation is for UK PMIs to decline. I’d wait to trade after release of data. If GBP goes up, I’ll short it against USD. If GBP goes down, I’ll buy it against AUD or NZD.

EUR in Focus

 Posted by at 11:49 AM  FX Market
Feb 212020

A bunch of data is coming out of EU later this afternoon 1615H to 1700H (+8GMT). Which of these do we follow?

1615H France
– Services PMI 51.4
– Manufacturing PMI 50.8
1630H Germany
– Manufacturing PMI 44.8
– Services PMI 53.9
1700H EU
– Manufacturing PMI 47.4
– Services PMI 52.4

I believe the significant moves will come on Germany’s data because Germany is the largest economy within the EU. So don’t get too excited at 1615H.

How do we trade this later? If EUR goes up, short it against USD. If EUR goes down, buy it against AUD or NZD.

Take away should be a good 0.30-0.50%