On Thursday 08-20-09 at 10:00 AM ET the two following reports were released:
USD Philly Fed Manufacturing Index release by the Federal Reserve Bank of Philadelphia released on a monthly basis.
USD CB Leading Index released by The Conference Board, Inc. also released on a monthly basis, but not always with the Philly Fed.
On Wednesday 08-19-09 at 10:00 AM ET, I posted a “preview” post, click here to review.
There was a report released on Thursday July 16, 2009, but the Philly Fed report was released alone.
The Philly Fed seems to have the greatest impact on the market.
Here was the set up for this month and the result:
USD Philly Fed Manufacturing Index Stats
previous = -7.5
forecast = -1.9
actual = 4.2
The “actual” report is 6.1 higher than the “forecast”, this shows an improvement in manufacturing as per a survey of Philadelphia manufactures.
The report did not come out high enough to have a great impact on the currency market, but there were some “scalp” opportunities on a couple USD involved currency pairs, one of which I did trade.
The EUR/USD currency pair did move down about 25 PIPS after the initial spike up the first minute of the report – I did do a short “scalp” trade after my broker spread and slippage moved back to normal.
The GBP/USD currency pair also made a good move down after the initial spike up the first minute of the report – moved down about 40 PIPS over a 10 minute period.
Here are the charts:
a one minute EUR/USD chart
a one minute GBP/USD chart
The currency pair USD/CAD did not have enough movement to mention.
The currency pair USD/JPY continued up after a brief down turn – this was against the USD.
The two currency pair crosses I monitor, had healthy moves – here are the charts.
a one minute EUR/JPY chart
This EUR/JPY currency pair moved down about 50 PIPS in 13 minutes after an initial spike up of 25 PIPS in the 1st minute of the report release.
a one minute GBP/JPY chart
This EUR/JPY currency pair moved down about 75 PIPS in 13 minutes after an initial spike up of 39 PIPS in the 1st minute of the report release.
The next time this report is scheduled for release is on Thursday 09-17-09 at 10:00 AM ET.
I will be posting a “preview” post probably a day before.
So – stay tuned!
