The Fundamental FOREX Blog

Tomorrow, Wednesday, 11-04-09 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

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

Last month I did a “follow up” of this report on Friday, 10-09-09, click here for a review.

Here is the set up for tomorrow.

USD ISM Non-Manufacturing  Composite stats:

Previous = 50.9

Forecast = 51.9

This from the FOREX Factory Website Calendar:

“Actual > Forecast = Good for currency (Note: While this is the ‘usual’ effect, under current market conditions the reverse tends to be true against some currencies, as bad data has been triggering the purchase of US bonds);”

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

Last month the “actual” was only 0.9 more than the “forecast”, not as much as I was hoping for in order to enter a trade in favor of the USD. And not much happened market wise.

So, I will probably be setting up to trade the EUR/USD or the EUR/JPY currency pair if the “actual” comes out at least 3.0 more or less than the “forecast” of 51.9.

I did post a “follow up” after the reports release, click here to see what happened.

The next scheduled release of this report is on Thursday, 12-03-09 at 10:00 AM ET, at this time it appears that it will be a stand alone report as well.

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

Stay tuned!