On Tuesday, 01-26-10, at 10:00AM ET the USD Consumer Confidence report was released along with two other US economic news releases.
USD – Housing Price Index MoM
USD – Richmond Manufacturing Index
The Consumer Confidence appears to have the greatest impact on the economy.
The last “preview” was posted on Monday, 01-25-10, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
The USD – Housing Price Index MoM is released monthly by FHFA (Federal Housing Finance Agency)
The USD – Richmond Manufacturing Index is released monthly by the Federal Reserve Bank of Richmond.
Lets take a look at what is going on with this news release:
USD Consumer Confidence Stats:
Previous = 52.9 revised = 53.6
Forecast = 53.6
Actual = 55.9
The “forecast” implied that the economists were feeling better about the future economy of the USA.
Here is how I was set up, and the results:
USD-8-00AM-01-26-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual———-forecast———-previous
________________53.6________52.9
_____55.9_______ 53.6________ 53.6
out at 58.6 or higher – BUY USD/CAD
out at 48.6 or lower – SELL USD/CAD
Good – “actual” came out higher then “forecast” by 2.3
Good – “actual” came out higher then “previous” by 3.0
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.
Check out the charts.
a one minute EUR/JPY chart
The currency pair EUR/JPY had a minor up/down move 1st 4 minutes
Moved up next 6 minutes about 26 PIPS
Moved down next 34 minutes about 56 PIPS
a one minute EUR/USD chart
The currency pair EUR/USD moved up 1st 3 minutes about 9 PIPS – wrong direction
Moved down 4th minute about 8 PIPS – right direction
Moved up next 12 minutes about 20 PIPS – wrong direction
Moved down 24 minutes about 32 PIPS – right direction
a one minute GBP/JPY chart
The currency pair GBP/JPY spiked up 1st minute about 12 PIPS
Moved down next 3 minutes about 25 PIPS
Moved up next 7 minutes about 50 PIPS
Moved down 45 minutes about 60 PIPS
a one minute GBP/USD chart
The currency pair GBP/USD ranged for 6 minutes
Moved up next 10 minutes about 24 PIPS – wrong direction
Moved down next 23 minutes about 27 PIPS – right direction
a one minute USD/CAD chart
The currency pair USD/CAD ranged for 4 minutes
Moved down next 56 minutes about 55 PIPS – wrong direction
a one minute USD/JPY chart
The currency pair USD/JPY moved up/down 1st 4 minutes about 5 PIPS/ 13 PIPS
Moved up next 4 minutes about 15 PIPS – right direction
Moved down next 48 minutes about 31 PIPS – wrong direction
The next release of these reports will be on Tuesday, 02-23-10 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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