On Monday, 10-05-09 at 10:00 AM ET, the USD ISM Non-Manufacturing Composite report was released.
This report is released by the Institute of Supply Management
This report was released alone, the last time this was released alone was on Thursday, 09-03-09 at 10:00 AM ET.
Last month I did a “follow up” of this report on Sunday, 09-06-09, click here for a review.
I did a post “preview” of this report on Sunday, 10-04-09, click here for a review.
Here was the set up for Monday.
USD ISM Non-Manufacturing Composite stats:
Previous = 48.4
Forecast = 50.0
Actual = 50.9
Good – it came out higher than the “forecast” by 0.9, and higher that the “previous” by 2.5.
I had set up to trade the EUR/JPY currency pair if the “actual” report came out higher or lower than the “forecast” by 3.0 or more – which it did not and I did not enter a trade.
Four of the six currency pairs I watch seemed to clear just a few moments prior to the release of the report, then after the report release, they continued in the same direction they were moving prior to the report.
Two currency pairs did have enough predicted movement for small “scalp” profits. Here are the charts.
a one minute GBP/USD chart
This GBP/USD currency pair moved down for 10 minutes about 30 PIPS – in favor of the USD.
a one minute USD/CAD chart
This USD/CAD currency pair had a minor move down for 2 minutes – then moved up the next 9 minutes about 33 PIPS – in favor of the USD.
The next scheduled release of this report will be on Wednesday, 11-04-09 at 10:00 AM ET
I will be probably be writing a “preview” post a day or two before the reports release.
Stay tuned!
