On Thursday 09-24-09 at 8:30 AM ET, the USD Initial Jobless Claims and the Continuing Jobless Claims reports were released.
These two reports are the only economic reports released at that time, sometimes they are released with other reports.
The last time these two reports were released alone was on Thursday, 09-03-09 at 8:30 AM ET, click here for a review of the “follow up“ posted on Saturday 09-05-09.
I did a “follow up” of those two reports on Saturday 09-05-09, click here to see how it was set up.
I also wrote a “preview” post on Wednesday, 09-02-09, click here for a review.
These 2 reports are released by the Department of Labor on a weekly basis.
It appears that the Initial Claims has the greater impact on the currency market, but, politically, the Continuing Claims may have cause some trading influence.
Here is what happened this week:
USD Initial Jobless Claims stats:
Previous = 545K revised = 551K
Forecast = 548K
Actual = 530K
The “actual” jobless claims came out more than the “forecast” by 18K, and 21K below the revised ”previous” good for the USD.
Continuing Jobless Claims stats:
Previous = 6261K
Forecast = 6183K
Actual = 6138K
The “actual” continuing claims came out less than the “forecast” by 45K, good for the USD.
Both of these reports were very good for the US economy, and some of the currency pairs moved just as predicted.
I traded the EUR/JPY currency pair a couple minutes after the release of the 09-24-09 reports. And had a few PIP win.
Here are the charts:
a one minute EUR/JPY chart
This EUR/JPY currency pair moved a little erratic the first minute, after my broker “spread” and “slippage” had went back to a normal level in the second minute, I executed a “buy” trade. About 4 minutes later a “sell” trade for an exit was made.
a one minute EUR/USD chart
The currency pair EUR/USD had erratic movement the first minute, then moved up against the USD for the next 21 minutes – then moved down in favor of the USD about 35 PIPS the rest of the hour.
a one minute GBP/JPY chart
This currency pair GBP/JPY kind of “ranged” for about 21 minutes, then moved down about 53 PIPS.
a one minute GBP/USD chart
The currency pair GBP/USD had erratic movement the first minute, then moved down in favor of the USD for the next 59 minutes about 85 PIPS.
a one minute USD/CAD chart
This USD/CAD currency pair made a minor move up the first minute, then moved down against the USD in 22 minutes about 25 PIPS, then moved up in favor of the USD about 37 PIPS in 37 minutes.
a one minute USD/JPY chart
This currency pair USD/JPY spiked up, then down 1st 2 minutes – reversed up about 18 PIPS in 12 minutes.
The next USD-Unemployment Claims report is coming out on Thursday 10-01-09 at 8:30 AM ET. This time they will be released with several other US economic reports.
I should be posting a preview a day or 2 prior.
Keep this mind, past performances are not an indication of future results.
Stay tuned!
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[...] last time these two reports were released alone was on Thursday, 09-24-09 at 8:30 AM ET, click here for a “follow up” [...]
[...] last time these two reports were released alone was on Thursday, 09-24-09 at 8:30 AM ET, click here for a review of the “follow up“ posted on Sunday [...]