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Trading the News: U.S. Personal Income
What is Expected
Time of
release: 08:30 EST, 12:30
GMT 3/30/2007
Primary Pair Impact : EUR/USD
Expected:
0.3%
Previous:
1.0%
How To Trade This?
Personal Income and Spending data has produced mix results through the past three releases, as surprises have frequently been overshadowed by data from other economic figures. Upcoming news will also include key Core PCE numbers, leaving the News Trader to gauge the relative importance of each report.
Looking at price levels alone, the EURUSD stands to challenge significant price levels on a surprise in any economic numbers. A very recent run on a rising trendline near 1.3320 may leave immediate risks to the downside, as a break below will likely challenge the key 1.3302. Subsequent profit targets are seen at the following swing lows of 1.3254.
If US economic figures prove largely disappointing, however, we could just as
easily see a run up to resistance near 1.3360. A break of a downward sloping
trendline and swing-highs could challenge significant highs above
1.3400.
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