On Tuesday, 12-01-09 at 10:00 AM ET the USD ISM Manufacturing PMI and Pending Home Sales MoM reports was released along with the following.
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, but did not enter a trade.
Here is the set up for this month:
USD ISM Manufacturing PMI stats:
Previous = 55.7
Forecast = 54.8
Actual = 53.6
Bad – the “actual came out 1.2 less than “forecast” and 2.1 less than “preview” .
USD Pending Home Sales MoM stats:
Previous = 6.1% revised = 6.0%
Forecast = -0.2% revised = -0.4%
Actual = 3.7%
Good – the “actual came out 3.9 % higher than the “forecast”, and 4.1% higher than the revised “forecast” report.
But – Bad, lower then “previous” by 2.4%, and lower then revised “previous” by 2.3%.
Overall, this may not have been good for the USD
Here are the charts:
a one minute EUR/JPY chart
This currency pair EUR/JPY moved down in 12 minutes about 45 PIPS -
then moved up the next 13 minutes about 35 PIPS
EUR/USD
This currency pair EUR/USD had minor move – no need to show chart.
a one minute GBP/JPY chart
This currency pair GBP/JPY spiked down/up about 32 PIPS/18 PIPS 1st minute -
then a minor move up the next 4 minutes -
then moved down for the next 8 minutes about 32 PIPS -
Moved up next 27 minutes about 44 PIPS.
a one minute GBP/USD chart
This currency pair GBP/USD moved up for about 60 minutes about 43 PIPS – right direction
USD/CAD
This currency pair USD/CAD minor range – no need to show chart. .
a one minute USD/JPY chart
This currency pair USD/JPY moved down the first 15 minutes about 27 PIPS – right direction -
then moved up the next 9 minutes about 16 PIPS – wrong direction.
I did not enter a trade this time – just a little confusing!
The next scheduled release of this combination of reports will be on Monday, 01-04-10 at 10:00 AM ET.
I will probably post a “preview” a day or two before.
Stay tuned!
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