On Wednesday, 02-03-10 at 8:15 AM ET, the “USD ADP Non- Farm Employment change” was released by Automatic Data Processing, Inc.
I did a “preview” of this months report, posted on Tuesday, 02-02-10, click here for a review.
Let us check out what is happened:
USD ADP Non- Farm Employment change stats:
Previous = -84K
Forecast = -34K
Actual = -22K
It appears that the employment situation is predicted to be improving.
Here is how I was set up and what happened:
USD-6-15AM-02-03-10
Looking for a 50K difference
Actual > Forecast = Good for USD
USD ADP Non-Farm Employment Change
——actual———-forecast———-previous
________________-34K________-84K
_____-22K_______ -31K_______ -61K
out at 16K or higher – SELL GBP/USD
out at -84K or lower – BUY GBP/USD
Good – “actual” came out higher then “forecast” by 9K
Good – “actual” came out higher then “previous” by 62K
Good – “actual” came out higher then previous “previous” by 39K
The “actual” and the “forecast” were not far enough apart to make a good trade – but the “actual” and the “previous” looked good for the USD. So, it was difficult to make any decision about a trade.
Here are the charts:
a one minute EUR/JPY chart
This EUR/JPY currency pair moved up for 6 minutes about 25 PIPS
Moved down next 35 minutes about 51 PIPS
a one minute EUR/USD chart
This EUR/USD currency pair continued moving down!
a one minute GBP/JPY chart
This GBP/JPY currency pair moved up for 10 minutes about 40 PIPS
Moved down next 32 minutes about 47 PIPS
a one minute GBP/USD chart
This GBP/USD currency pair continued moving down!
a one minute USD/CAD chart
This USD/CAD currency pair spiked down 1st 2 minutes about 15 PIPS
Ranged for 13 minutes
Moved down next 16 minutes about 17 PIPS
a one minute USD/JPY chart
This USD/JPY currency pair moved up for 10 minutes about 25 PIPS
Ranged for 8 minutes
Moved down next 19 minutes about 17 PIPS
The next ADP report is scheduled for Wednesday, 03-03-10 at 8:15 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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