The Fundamental FOREX Blog

On  Thursday 10-01-09 at 10:00 AM ET the USD ISM Manufacturing PMI and Pending Home Sales MoM reports was released along with the ISM Prices Paid, Pending Home Sales YoY and Construction Spending MoM.

USD ISM Manufacturing PMI and Pending Home Sales MoM  have the greatest impact on the currency markets – the ISM Manufacturing PMI being the better.

The USD ISM Manufacturing PMI is released by the Institute of Supply Management and is released monthly.

The Pending Home Sales MoM  is released by the National Association of Realtors and is released monthly.

The last time this combination of reports was released was on Wednesday, 09-01-09 at 10:00 AM ET.

I did a “follow up” post on last months report, click here for a review.

I did a “preview” post of this months reports, click here for a review.

I had set up to trade the EUR/JPY, but did not enter into a trade – too much conflict with the news releases. Glad that I made the choice that I did.

Here is the set up for this month:

USD ISM Manufacturing PMI stats:

Previous = 52.9

Forecast = 53.9

Actual = 52.6
Bad – this report came out 1.3 less than “forecast” and 0.3 less than “preview” .

USD Pending Home Sales MoM stats:

Previous = 3.2%

Forecast = 0.9%

Actual = 6.4%
Good – this report came out 5.5 % higher than the “forecast”, and 3.2% higher than the “previous” report.

The conflict of the reports created a confusing situation, plus the 1.3 difference between the “actual” and the “forecast” of the Manufacturing PMI, kept me from executing a trade. Fortunate that I didn’t.

It is hard to tell which report had the most affect on the currency market since some currency pairs did show some good moves and others were erratic.

I do not believe that it will be of any benefit to show any charts.

The next scheduled release of  this combination of reports will be on Monday 11-02-09 at 11:00 AM ET.

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

Stay tuned!