Signal for 16th October

Let's talk about Thursday.

1. Thursday, October 16th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. CPI Core m/m coming out. I would trade USD/JPY on this. If it comes out at 0.3 or higher, and the other numbers are as expected or higher, I would sell USD/JPY SHORTLY AFTER the release. If it comes out at 0.1% or lower, and the other numbers are as expected or lower, I would buy USD/JPY SHORTLY AFTER the release. If the trigger is hit, I would expect 30 to 40 pips move.

The other reports such as US TIC, Industrial Production or Philadelphia Fed may move the market a bit but currently I would not trade them