Tuesday, November 24, 2009

HAVE A LOOK..News from forex circles

We've got tons of untradable news today, although they do have the
potential of moving the market, but without a decent track record to
predict market reaction, it is best to stay out of the market
during the release times.
1. Tuesday November 24, 2009 (8:30am NY Time) US
Prelim GDP q/q             Forecast 2.9%      Previous 3.5%
We are looking for a 0.3% deviation on the expected 2.9%. Therefore
if we get a 3.2% on the Prelim 3rd quarter GDP, it would be
somewhat US Dollar positive and we will BUY USD/JPY.  However, if
we get a 2.6% release or worse, then we would be SELLING USD/JPY or
USD/CHF.
Since this is the 2nd release, we do not expect much reaction and/or
deviation... most of the time market has already priced in the move
way before the release time.

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