On Friday 12-11-09 at 9:55 AM ET the University of Michigan was releasing two monthly reports, Consumer Sentiment and Inflation Expectations.
These are “preliminary” reports.
I did a “preview” of these reports on Thursday, 12-10-09, click here for a review.
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);”
Lets see how the stats turned out for this report:
USD U. of Michigan Confidence Stats:
Previous = 67.4
Forecast = 68.7 revised = 68.6
Actual = 73.4
USD U. of Michigan Inflation Expectations Stats:
Previous = 2.7%
Forecast =
Actual = 2.1%
Keep in mind, some of the traders get the U of M reports at 9:55 AM ET and others do not get them until 10:00 AM ET.
Here is how I was set up:
USD-7-55AM-12-11-09 PreLim
Looking for a 10.0 difference
USD U. of Michigan Confidence
Actual > Forecast = Good for USD
. actual forecast previous
. 68.7 67.4
. 73.4 68.6 67.4
Out at 58.7K or lower – BUY EUR/USD
Out at 78.7K or higher- SELL EUR/USD
Good – actual came out higher then “forecast” by 4.7
“ – actual came out higher then revised “forecast” by 4.8
“ – actual came out higher then “previous” by 6.0
The EUR/JPY currency pair did not have enough movement to show.
a one minute EUR/USD currency pair chart
This currency pair EUR/USD minor move up for 6 minutes
Moved down next 53 minutes about 58 PIPS – right direction
a one minute GBP/JPYcurrency pair chart
This currency pair GBP/JPY moved up for 25 minutes about 42 PIPS.
Then ranged.
a one minute GBP/USD currency pair chart
This currency pair GBP/USD ranged.
a one minute USD/CAD currency pair chart
This currency pair USD/CAD ranged for 5 minutes
Moved up next 18 minutes about 39 minutes - right direction
USD/JPY not much reaction – continued in the same direction, will not show the charts.
I did not trade this time!
This report is next scheduled for release on Friday 01-15-10 at 9:55 AM ET.
I will probably be posting a “preview” of next months reports a day or two before.
Stay tuned!
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