On Wednesday, 11-04-09 at 8:15 AM ET, the “USD ADP Non- Farm Employment change” was released by Automatic Data Processing, Inc.
I wrote a “preview” post on Tuesday, 11-03-09, click here for a review.
I had decided that the GBP/USD currency pair would be the one to watch and possibly trade for this report – here is what happened:
USD ADP Non- Farm Employment change stats:
Previous = -254K
Forecast = -188K
Actual = -203K
bad – lower than “forecast” by 15K
But, Good – since it came out better then the “previous” by 51K – so it does show some improvement in the Non-Farm Employment.
Even though the “actual” report was down only a small 15K from the “forecast” which is bad for the USD, the markets did show some life.
I was looking for a 50K difference for a trade entry, and the 15K difference was not enough to enter a trade.
a one minute EUR/JPY chart
This EUR/JPY currency pair spiked down the 1st two minutes about 20 PIPS – then it moved up the next 9 minutes about 28 PIPS – then reversed down the next 22 minutes about 23 PIPS.
a one minute EUR/USD chart
The first 2 minutes this EUR/USD moved down – then moved up about 41 PIPS in 14 minutes, – here it was moving in the right direction.
a one minute GBP/JPY chart
This GBP/JPY currency pair moved the down 1st two minutes about 26 PIPS – then it moved up the next 12 minutes about 32 PIPS – then reversed down the next 36 minutes about 42 PIPS.
a one minute GBP/USD chart
The first 2 minutes this GBP/USD moved down 1st two minutes about 12 PIPS – wrong direction – then moved up about 35 PIPS in 11 minutes, – here it was moving in the right direction.
The two currency pairs USD/CAD and USD/JPY chart action was very minor.
This from the FOREX Factory 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);”
The next ADP report is scheduled for Wednesday, 12-02-09 at 8:15 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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