By Darrell Martin
This is a trade for evening traders that can trade after work!
Australia is releasing the Retail Sales Report as well as the Trade Balance Report on Wednesday, December 3, 2014, at 7:30 PM. Hopefully, this gives you time to get home from work and see how your trade is playing out.
The Retail Sales is a report that is released each month and measures the change in sales at the retail level. It is inflation adjusted and is the best indicator of consumer spending, accounting for the majority of overall economic activity.
If the reading is higher than expected, that means it is positive or bullish on the AUD side of your trade. If lower, then it would be negative or bearish for the AUD side.
Last month’s reading was 1.2%. The forecast for this month is 0.1%. This report comes from the Australian Bureau of Statistics and is given a High level of importance.
The Trade Balance is a report that measures the difference in value between imported and exported goods and services. If it is a positive number, that means that more goods and services were exported than were imported.
If the reading is higher than expected, it should be regarded as bullish for the AUD. A lower reading would be bearish for the AUD. The forecast for this month is -1.810B. The previous reading was -2.261B. This report is also issued by the Australian Bureau of Statistics and is given a Medium level of importance.
Because these reports are coming from the same country at the same time, it is recommended that you look for an Iron Condor using Nadex spreads. Iron Condors are formed when you enter an upper and a lower spread with the same expiration time.
You want the floor of the upper spread to be equal to the ceiling of the lower spread. Use the AUD/USD as your instrument entering as early as 6:00 PM with an expiration of 8:00 PM. You want a minimum profit of $25.
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