The Fundamental FOREX Blog

Tomorrow, Monday, 10-05-09 at 10:00 AM ET, the USD ISM Non-Manufacturing  Composite report will be released.

This report is released by the Institute of Supply Management

http://www.ism.ws/

Tomorrows report is being released alone, just as the September and July reports were.

Last month I did a “follow up” of this report on Sunday, 09-06-09, click here for a review.

Also, I did a “preview” post on Wednesday, 09-02-09, click here for a review.

Here is the set up for tomorrow.

USD ISM Non-Manufacturing  Composite stats:

Previous = 48.4

Forecast = 50.0

Again, it appears that the economists believe things are improving – so…..

Last month the “actual” was only 0.1 more than the “forecast”, not as much as I was hoping for in order to enter a trade in favor of the USD.

However, if you check the “follow up” for last month, two of the USD involved currency pairs, GBP/USD and EUR/USD, moved in the predicted direction and enough to provide some “scalping” opportunities.

So, I will probably be prepared to trade the EUR/USD currency pair if the “actual” comes out at least 3.0 more or less than the “forecast” of 50.0.

I will be posting a “follow up” post soon after the reports release.

The next scheduled release of this report is on Wednesday, 11-04-09 at 11:00 AM ET, at this time it appears that it will be a stand alone report as well.

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

Stay tuned!