On Tuesday 11-10-09 at 5:00 AM ET, two EUR reports were released, these are:
EUR – German ZEW Survey Economic Sentiment
EUR – German ZEW Survey Current Situation
The GBP CB Leading Index m/m report was later added to the mix, which probably had no affect.
Released by The Conference Board Inc.
The EUR reports are released by the Centre for European Economic Research (ZEW)
The last time these were released was on Tuesday 10-13-09 at 5:00 AM ET.
I did a “preview” of the 11-10-09 reports on Monday 11-09-09, click here for a review.
The EUR – German ZEW Survey Economic Sentiment appears to have the greatest impact on the market.
Here was the set up for 11-10-09 and the results:
EUR German ZEW Economic Sentiment Stats:
previous = 56.0
forecast = 55.2
actual = 51.1
Bad - lower than the “forecast” by 4.1, and lower by 4.9 of “previous”.
I monitor six currency pairs for these reports, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY.
Two of the currency pairs were not affected by the difference between the “forecast” and the “actual” reports, EUR/CHF and EUR/GBP.
Here is how the reports affected these other four.
a one minute EUR/JPY chart
This EUR/JPY currency pair moved down the first 3 minutes about 32 PIPS – right direction, then moved up about 90 PIPS the next 56 minutes – wrong direction.
a one minute EUR/USD chart
This EUR/USD currency pair moved down the first 3 minutes about 23 PIPS – right direction, then moved up about 42 PIPS the next 57 minutes – wrong direction.
Much to my surprise I got caught trading in the wrong direction here – two trades, one win and one loss.
a one minute GBP/JPY chart
This GBP/JPY currency pair moved down 1st three minutes about 31 PIPS – then moved up the next 57 minutes about 110 PIPS.
a one minute GBP/USD chart
This GBP/USD currency pair moved down 1st eight minutes about 25 PIPS – then moved up the next 53 minutes about 64 PIPS. .
The next reports are scheduled for Tuesday, 12-15-09 at 6:00 AM ET, I have noticed lately that schedules are sometimes changed during the time periods between scheduled reports.
I will probably post a “preview” a day or two prior.
Stay tuned!
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