Forex News Trading: Trades for Wednesday, June 17, 2020

8:30 AM EDT
CAD CPI
USD/CAD

The forecast is for the CPI number to go from -0.7% to 0.8%, a 1.5% change. It is expected the economy in Canada is recovering quickly also. Not sure if we will see much of a move from this one unless they miss by a large amount, but the numbers are starting to get back to normal again which should mean trades will do the same.

SETTINGS: I’d try buy/sellPips of maybe 10 or 12 and get out fast whether you get in or not.

6:45 PM EDT
NZD GDP q/q
NZD/USD

The Kiwi GDP is expected to drop from 0.5% to -1.0%, a turn around of -1.5%. This is due to the fact that this release is quarterly so it incorporates two months of drops but only one month of gains. I’m sure the economy took a good bounce up last month like most others did.

I wouldn’t put much faith in this one because of this.

SETTINGS: Set buy/sellPips to 15 or 20 and get out fast if you get in at all.

9:30 PM EDT
AUD Employment Change
AUD/USD

The jobs number is expected to fall another 75k and the unemployment rate is expected to jump from 6.2% to 7%. It seems there is a decent chance they will miss the guess on this one by quite a bit, but whether the markets will care is another story. Like all the other trades, go extremely light on this.

SETTINGS: Try buy/sellPips of 8 to 10 and get out fast if you get in.

About Barry Battista

I am a software guy that started trading in 2006. I have been trading the news for a living ever since. Eventually I wrote some code to help a friend and I improve our odds, and gradually the software took on a life of its own. My intention is to adapt this trading style to the ever changing Forex markets to always provide the trader with the tools and information to give them the maximum odds of a profitable trade.
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