The Fundamental FOREX Blog

On  Monady, 12-07-09 at 6:00 AM ET. The EUR – German Factory Orders MoM and YoY reports were released.

The German Factory Orders reports are released on a monthly basis by Deutsche Bundesbank.

I posted a “preview” of those reports, click here for a review.

Here is how things went:

EUR – German Factory Orders MoM stats:
Looking for a 1.3% difference
Actual > Forecast = Good for EUR
Previous = 0.9% revision = 1.3%

Forecast = 0.6%

Actual = -2.1%
Bad – less then “forecast” by 2.7%
“    – less then “previous” by 3.0%
“    – less then revised  “previous” by 3.4%

It was enough of a surprise to the trading market to cause movement of the “currency charts”, but not as much as I expected.

Here are the charts: (EUR/CHF currency pair did not make a good showing)

a one minute EUR/GBP chart

This currency pair EUR/GBP- moved down for 8 minutes - right direction
Small move up next 5 minutes – wrong direction
then moved down the next 7 minutes about 6 PIPS – right direction!

I did enter a trade here and exited too soon – did manage a 2/5’s PIP win.

a one minute EUR/JPY chart

This currency pair EUR/JPY- small move down 1st 2 minutes – right direction
moved up next 9 minutes about 20 PIPS – wrong direction
then moved down the next 10 minutes about 20 PIPS – right direction!

a one minute EUR/USD chart

This currency pair EUR/ USD – small move down 1st 2 minutes 1st 8 minutes – wrong direction
then moved down the next 49 minutes about 22 PIPS – right direction!

a one minute GBP/JPY chart

This currency pair GBP/JPY- moved up 1st 8 minutes about 21 PIPS
moved down next 37 minutes about 23 PIPS

a one minute GBP/USD chart

This currency pair GBP/USD- moved up in 20 minutes about 10 PIPS
moved down next 25 minutes about 26 PIPS

The next scheduled release of this report is on Thursday, 01-07-10 at 6:00 AM ET.

I will probably post a “preview” a day or two prior.

Remember, “Past performances are not an indication of future results!

Stay tuned!