On Thursday 11-02-09 at 10:00 AM ET the USD ISM Manufacturing PMI and Pending Home Sales MoM reports was released along with the folowing.
ISM Prices Paid
Pending Home Sales YoY
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.
I did a “preview” post of this months reports, click here for a review.
I had set up to trade the GBP/JPY, and had a winner.
Here is the set up for this month:
USD ISM Manufacturing PMI stats:
Previous = 52.6
Forecast = 53.1
Actual = 55.7
Good – this report came out 1.3 less than “forecast” and 0.3 less than “preview” .
USD Pending Home Sales MoM stats:
Previous = 6.4%
Forecast = 0.3%
Actual = 6.1%
Good – this report came out 5.5 % higher than the “forecast”, and 3.2% higher than the “previous” report.
But – Bad, lower then “previous” by 0.3%
Overall, this was good for the USD
Here are the charts:
a one minute EUR/JPY chart
This currency pair EUR/JPY moved up the first 5 minutes about 115 PIPS – then a minor retrace the next 10 minutes about 53 PIPS – then moved back up for the next 21 minutes about 65 PIPS.
a one minute EUR/USD chart
This currency pair EUR/USD moved up for about 31 minutes about 65 PIPS – wrong direction
a one minute GBP/JPY chart
This currency pair GBP/JPY moved up the first 6 minutes about 130 PIPS – then a minor retrace the next 10 minutes – then moved back up for the next 17 minutes about 74 PIPS.
I traded this currency pair and had a winner!
a one minute GBP/USD chart
This currency pair GBP/USD moved up for about 31 minutes about 80 PIPS – wrong direction
a one minute USD/CAD chart
This currency pair USD/CAD moved down the first 6 minutes about 60 PIPS – wrong direction – then ranged.
a one minute USD/JPY chart
This currency pair USD/JPY moved up the first 5 minutes about 53 PIPS – right direction – then retraced the next 10 minutes about 33 PIPS – wrong direction – then moved back up for the next 17 minutes about 25 PIPS.
The next scheduled release of this combination of reports will be on Tuesday, 12-01-09 at 11:00 AM ET.
I will probably post a “preview” a day or two before.
Stay tuned!
2 Trackbacks
[...] did post a “follow up” of these reports, click here to see what [...]
[...] did a “follow up” post, click here for a [...]