On Friday 09-11-09 at 9:55 AM ET the University of Michigan was releasing two monthly reports, Consumer Sentiment and Inflation Expectations.
I did a “preview” of these reports on Friday, 09-11-09, click here for a review.
I did a “preview” post on the last months reports, click here for a review.
And, I also wrote a “follow up” post, click here for a review.
By reviewing those three posts and the charts, you can learn much about how to trade and what are the best currency pairs to monitor for trade set ups.
I did set up to trade if the reports came out enough for a strong chart moving opportunity.
Lets see how the stats turned for this report:
USD U. of Michigan Confidence Stats:
Previous = 65.7
Forecast = 67.1 revised = 67.2
Actual = 70.2
This report came out 3.1 more than the “forecast” and is good for the USD, and the market currency pairs that I monitor did move well, however, I did not execute a trade. I was looking for a difference of around 10.0.
Keep in mind, some of the traders get the U of M reports at 9:55 AM ET and others do not get them until 10:00 AM ET.
Since this did move the markets well, I will show how the charts moved:
a one minute EUR/JPY chart
At 9:55 AM ET, the market moved up about 16 PIPS, then at 10:00 AM ET the market moved down about 65 PIPS in 13 minutes.
a one minute EUR/USD chart
At 9:55 AM ET, the market moved up about 16 PIPS the 1st minute, then moved down about 27 PIPS the 4 minutes, then at 10:00 AM ET the market moved down about 55 PIPS in 11 minutes. Moving in the predicted direction over-all.
a one minute GBP/JPY chart
At 9:55 AM ET, the market moved up about 24 PIPS, then at 10:00 AM ET the market moved down about 60 PIPS in 13 minutes.
a one minute GBP/USD chart
At 9:55 AM ET, the market moved up about 15 PIPS the 1st minute, then moved down about 28 PIPS the 4 minutes, then at 10:00 AM ET the market moved down about 42 PIPS in 4 minutes. Moving in the predicted direction over-all.
a one minute USD/CAD chart
At 9:55 AM ET, the market moved up about 5 PIPS in 5 minutes, then at 10:00 AM ET the market moved up about 25 PIPS in 4 minutes. Then moved down about 47 PIPS in 43 minutes. Did not move in the predicted way.
a one minute USD/JPY chart
At 9:55 AM ET, the market moved up about 17 PIPS in 5 minutes, then at 10:00 AM ET the market moved up about 9 PIPS in 4 minutes. Then moved down about 33 PIPS in 10 minutes. Did not move in the predicted way.
This report is next scheduled for release on Friday 10-16-09
I will probably be posting a “preview” of next months reports a day or two before.
Stay tuned!
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