The Fundamental FOREX Blog

Tomorrow, Wednesday, 01-06-10 at 10:00 AM ET, the USD ISM Non-Manufacturing  Composite report will be released.

This report is released by the Institute of Supply Management.

Tomorrows report is being released alone.

Last month I did a “follow up” of this report on Monday, 12-07-09, click here for a review.

Here is my set up for tomorrow.

USD-8-00AM-01-06-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
.                . actual . forecast . previous
.                               .50.5             48.7
out at 53.5 or higher – SELL EUR/USD
out at 47.5 or lower – BUY EUR/USD

This from the FOREX Factory Website 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);”

Again, it appears that the economists believe things are improving – so…..

I will probably be setting up to trade the EUR/USD or the EUR/JPY currency pair if the “actual” comes out at least 3.0 more or less than the “forecast” of 50.5.

Be sure to check out the “follow up” post for last month.

I did post a “follow up” of this months results, click here to see what happened.

The next scheduled release of this report is on Wednesday, 02-03-10 at 10:00 AM ET, at this time it appears that it will be a stand alone report as well.

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

Stay tuned!