On Wednesday, 12-02-09 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, 12-01-09, 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 = -203K revised = 195K
Forecast = -145K revised = 149K
Actual = -169K
bad – greater than “forecast” by 24K and greater then revised “forecast” by 20K.
But, Good – since it came out less then the “previous” by 34K and less then the revised “previous” by 26K – so it does show some improvement in the Non-Farm Employment.
Even though the “actual” report was greater by 24K 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 24K difference was not enough to enter a trade.
a one minute EUR/JPY chart
This EUR/JPY currency pair moved down in 8 minutes about 28 PIPS -
then it moved up the next 8 minutes about 25 PIPS -
then reversed down the next 15 minutes about 28 PIPS.
a one minute EUR/USD chart
This EUR/USD currency pair had a minor move down/up for 11 minutes -
then moved down about 30 PIPS in 46 minutes, – wrong direction.
a one minute GBP/JPY chart
This GBP/JPY currency pair moved down in 7 minutes about 27 PIPS -
then it moved up the next 8 minutes about 27 PIPS -
then reversed down the next 26 minutes about 31 PIPS.
a one minute GBP/USD chart
This GBP/USD currency pair had a minor range for 7 minutes -
then moved up about 17 PIPS in 5 minutes, – right direction -
then moved down about 44 PIPS in 41 minutes – wrong direction
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 42 minutes about 39 PIPS – wrong direction.
a one minute USD/JPY chart
This USD/JPY currency pair moved down in 8 minutes about 16 PIPS – right direction -
Then ranged.
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, 01-06-10 at 8:15 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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