On Thursday 10-15-09 at 8:30 AM ET, the USD Initial Jobless Claims and the Continuing Jobless Claims reports were released.
Also, another important economic news release was scheduled – the USD Core Consumer Price Index MoM and the Consumer Price Index MoM.
Of lesser importance the following news releases were scheduled:
CAD – Manufacturing Shipments MoM
USD – Consumer Price Index YoY
USD – Core Consumer Price Index YoY
USD – Core Consumer Price Index s.a
USD – Consumer Price Index n.s.a.
USD – Empire Manufacturing
These 2 jobless reports are released by the Department of Labor on a weekly basis.
The Consumer Price Index is released by Bureau of Labor Statistics.
I posted a “preview” on Wednesday, 10-14-09, click here for a review.
Here what happened:.
USD Initial Jobless Claims stats:
Previous = 521K
Forecast = 525K
Actual = 514K
Good – Lower then the “forecast” by 11K and lower then the “previous” by 7K.
Continuing Jobless Claims stats:
Previous = 6040K revised = 6067K
Forecast = 6060K revised = 6000K
Actual = 5992K
Good – Lower then “forecast” by 68K, lower then the revised “forecast” by 8K. Lower then “previous” by 48K and lower then the revised “preview” by 75K.
USD Core Consumer Price Index MoM stats:
Previous = 0.1%
Forecast = 0.1%
Actual = 0.2%
Good – higher then “forecast” by 0.1% and higher then the “previous” by 0.1%
USD Consumer Price Index MoM stats:
Previous = 0.4%
Forecast = 0.2%
Actual = 0.2%
With three of these reports coming out different from the “forecast” and in favor of the USD, the currency markets did some moving, the two “crosses” I watch moved the most.
I did set up to trade the USD/JPY currency pair, and had a winning trade.
It seems that only one currency pair did not move in the “predicted” direction – that was the USD/CAD which may have had something to do with the CAD economic report.
Here are the currency pairs:
a one minute EUR/JPY chart
This EUR/JPY currency pair had a spike up and reverse down 1st minute, then moved up about 75 PIPS in 60 minutes.
a one minute EUR/USD chart
The currency pair EUR/USD had a minor move up in 3 minutes, then reversed down about 42 PIPS in 26 minutes. As predicted.
a one minute GBP/JPY chart
This currency pair GBP/JPY had a spike up and reversed down 1st minute, then moved up about 95 PIPS in 34 minutes.
a one minute GBP/USD chart
The currency pair GBP/USD just ranged.
a one minute USD/CAD chart
This USD/CAD currency pair ranged for 26 minutes – then moved down about 40 PIPS in 35 minutes. Not predicted.
a one minute USD/JPY chart
This currency pair USD/JPY had a spike up and reversed down 1st minute, then ranged for about 5 minutes, then moved up about 58 PIPS in 25 minutes. As predicted – traded.
The next scheduled release for the USD Consumer Price Index reports is on Monday, 11-16-09 at 9:30 AM ET, and the USD initial Jobless Claims will be on Thursday, 10-22-09 at 8:30 AM ET. They will not be together again for awhile.
I will probably post “previews” a day or two prior.
Keep this mind, past performances are not an indication of future results.
Stay tuned!
