On Tuesday, 12-29-09, at 10:00AM ET the USD Consumer Confidence report which was released alone, last month it was released with three other US economic news releases.
The Consumer Confidence appears to have an impact on the economy.
The last “preview” was posted on Monday, 12-28-09, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
Lets take a look at what happened with these news releases:
USD Consumer Confidence Stats:
Previous = 49.5 revised = 50.6
Forecast = 53.3 revised = 53.0
Actual = 52.9
Bad – “actual” came out lower then “forecast” by 0.4
Bad – “actual” came out lower then revised “forecast” by 0.1
Good – “actual” came out higher then “previous” by 3.4
Good – “actual” came out higher then revised “previous” by 2.3
I had set to trade the currency pair USD/CAD with a 5.0 difference between the “actual” and the “forecast”.
Well, the “actual” did not come out greater then the 5.0 difference and I did not enter a trade.
Also, since the “actual” difference from the “forecast” was not enough for any reliable trader reaction, I hesitate to show anything on the charts aside from the “report release”.
Check out the charts.
a one minute EUR/JPY chart
The currency pair EUR/JPY moved down 1st 4 minutes about 14 PIPS
Moved up next 14 minutes about 15 PIPS
a one minute EUR/USD chart
The currency pair EUR/USD moved down 1st 4 minutes about 16 PIPS
Moved up next 15 minutes about 19 PIPS
Moved down next 42 minutes about 25 PIPS
a one minute GBP/JPY chart
The currency pair GBP/JPY moved down for 50 minutes about 33 PIPS
a one minute GBP/USD chart
The currency pair GBP/USD moved down for 60 minutes about 49 PIPS
a one minute USD/CAD chart
The currency pair USD/CAD moved up for 60 minutes about 25 PIPS
a one minute USD/JPY chart
The currency pair USD/JPY Moved down/up/down 1st minute.
Moved up next 3 minutes about 2 PIPS.
Moved down next 8 minutes about 5 PIPS
Moved up next 50 minutes about 17 PIPS
According to FOREX Factory the following:
“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 release of these reports will be on Tuesday, 01-26-10 at 10:00 AM ET.
I will probably post a “preview” a day or two prior.
Past performances are not an indication of future results.
So—Stay tuned!
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