The Fundamental FOREX Blog

On Friday 09-25-09 at 8:30 AM ET, the Core Durable Goods Orders MoM and Durable Goods Orders MoM were released by the Census Bureau.

I wrote a “preview “ post on Thursday 09-24-09, click here for a review.

My last “follow up” post concerning these reports was on August 30, 2009, click here for a review.

These two reports were stand alone reports this month.

Here is how the reports were set up and the results:

Core Durable Goods Orders m/m – Stats

Previous = 1.1% Revised = 0.9%

Forecast = 0.9%

Actual = 0.7%    bad – lower by 0.2% than “forecast”, and the “revision” made things look even worse.

Durable Goods Orders m/m – Stats

Previous = 5.1% Revised = 4.8%

Forecast = 0.3%

Actual = -2.4%     bad – lower by 2.1% than “forecast”, and the “revision” did not help matters – reports came out bad for the USD. I believe the “revisions” were released about 4 minutes after the initial report release.

I had set up to trade the currency pair GBP/JPY and entered 4 trades, two were at a loss and two were winners. (This was not a good trading week for me)

The only currency pair of the six pairs that I watch, which did not appear to be affected by the reports, was the USD/JPY.

All 4 USD involved currency pairs initially moved in favor of the USD, in spite of the poor reports. Fed Chairman Bernanke was scheduled to speak at 9:00AM ET – I do not believe that was a contributing factor.

I will show the other 5 pairs in this post.

Here are the charts:

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 8 minutes, a 43 PIP move in favor of the USD – then it reversed up the next 52 minutes about 41 PIPS, a move against the USD.

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 7 minutes, a 58 PIP move in favor of the USD – then it reversed up the next 49 minutes about 76 PIPS, a move against the USD.

a one minute USD/CAD chart

This USD/CAD currency pair up for 9 minutes, a 64 PIP move in favor of the USD – then it reversed down the next 30 minutes about 47 PIPS, a move against the USD.

Crosses:

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 4 minutes, a total of about 45 PIPS -  reversed up the next 3 minutes about 28 PIPS – then reversed down for 7 minutes about 20 PIPS – then did a 36 minute up move for about 42 PIPS.

The chart tells the story of this trade experience.

a one minute EUR/JPY chart

This EUR/JPY currency pair spiked down for 2 minutes, a 29 PIP move, reversed up the next 4 minutes about 20 PIPS. Nothing really eventful after that.

The next scheduled release of these reports is on Wednesday, 10-28-09 at 8:30 AM ET.

I will probably post a “preview” a day or two prior.

Stay tuned!