Your Setup Trade for US Economic Data
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Bullish on the U.S. economy?
Here's your currency trade.
It's tough to sort out the economic signals this week, what with signs of weakness in the South Pacific, a controversy in Europe over Spain's deficit targets, and a looming Federal Reserve confab.
But Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, expects indicators for the U.S. to look good.
"I think we're going to have strong CPI data out of the U.S., strong retail sales, and that will push the dollar higher," she told CNBC's Scott Wapner.
So Bourdeau wants to buy the dollar against the yen. She recommends entering the trade at 82.20 with a stop at 81.00 and a target of 85.00
You can watch the conversation on the video.
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