Does anyone want to join in a discussion trading forthcoming news items?
I trade the news - I find that it is the most reliable way of making money in fx
Tomorrow we have GBP Manufacturing Production m/m- at 09:30- This will be for January 2016
This is probably not the best one - to start this thread. But it will give you a flavour of what I look at when looking at the news
This announcement does move the market - usually about 30 pips, obviously this depends on whether actual beats expected or not- and whether there is anything in the report that provides information contrary to the headline figure.
Tomorrow - the estimate is .2%, previous was -.2
Not sure if this is a bit high - but I think it is a tricky call - so I may stand aside on this one
Here is my breakdown:
Sometimes its useful to look at figures associated with what is going to be announced
Manufacturing PMI for Jan was off estimates, oil was still in the doldrums
Previous figures are here http://www.forexfactory.com/calendar.php#detail=59927
There is also the EEF statement- which has some concerns
https://www.eef.org.uk/resources-and...015-submission
Last months report stated
Manufacturing output decreased by 0.2% in December 2015 compared with November 2015. The largest contribution to the decrease came from the manufacture of wood, paper products & printing, which decreased by 2.1%.
http://www.ons.gov.uk/economy/econom...n/december2015
But in mitigation - the pound has been weaker- and if it is a negative figure - this would be the 4th consecutive contraction and last month's figs showed a slight drop in negativity
However, on balance - when I think of all the issues with euozone, brexit, oil and commodity issues, manufacturers concerns- its difficult to see a positive figure
Although as I said - this is a tricky call- and I may stand aside. Although we may get some clues on how the market reacts before the announcement.
I trade the news - I find that it is the most reliable way of making money in fx
Tomorrow we have GBP Manufacturing Production m/m- at 09:30- This will be for January 2016
This is probably not the best one - to start this thread. But it will give you a flavour of what I look at when looking at the news
This announcement does move the market - usually about 30 pips, obviously this depends on whether actual beats expected or not- and whether there is anything in the report that provides information contrary to the headline figure.
Tomorrow - the estimate is .2%, previous was -.2
Not sure if this is a bit high - but I think it is a tricky call - so I may stand aside on this one
Here is my breakdown:
Sometimes its useful to look at figures associated with what is going to be announced
Manufacturing PMI for Jan was off estimates, oil was still in the doldrums
Previous figures are here http://www.forexfactory.com/calendar.php#detail=59927
There is also the EEF statement- which has some concerns
https://www.eef.org.uk/resources-and...015-submission
Last months report stated
Manufacturing output decreased by 0.2% in December 2015 compared with November 2015. The largest contribution to the decrease came from the manufacture of wood, paper products & printing, which decreased by 2.1%.
http://www.ons.gov.uk/economy/econom...n/december2015
But in mitigation - the pound has been weaker- and if it is a negative figure - this would be the 4th consecutive contraction and last month's figs showed a slight drop in negativity
However, on balance - when I think of all the issues with euozone, brexit, oil and commodity issues, manufacturers concerns- its difficult to see a positive figure
Although as I said - this is a tricky call- and I may stand aside. Although we may get some clues on how the market reacts before the announcement.