On Monday, 02-01-10 at 10:00 AM ET the USD ISM Manufacturing PMI report was released along with two other reports.
USD ISM Prices Paid
USD Construction Spending (MoM)
USD ISM Manufacturing PMI has the greatest impact on the currency markets.
The USD ISM Manufacturing PMI is released by the Institute of Supply Management.
and the Construction Spending is released by the Census Bureau and is released monthly.
I did a “preview” post for this month, click here for a review.
Here is what happened this month:
USD ISM Manufacturing PMI stats:
Previous = 54.9
Forecast = 55.5
Actual = 58.4
Here is how I was set up and what happened:
USD-8-00AM-02-01-10
Looking for a Change of 2 to 3
Actual > Forecast = Good for USD
USD ISM Manufacturing PMI
——actual———-forecast———-previous
_____58.4________55.5________54.9
out at 57.5 or higher – SELL GBP/JPY
out at 53.5 or lower – BUY GBP/JPY
Good – “actual” came out higher then the “forecast” by 2.9
Good – “actual” came out higher then the “previous” by 3.5
USD Treasury Sec Geithner was speaking.
Here are the charts:
a one minute EUR/JPY chart
This currency pair EUR/JPY spiked up 1st minute about 30 PIPS
Move down next 7 minutes about 32 PIPS
Move up next 17 minutes about 52 PIPS
a one minute EUR/USD chart
This currency pair EUR/USD move down for 7 minutes about 28 PIPS – right direction
Move up next 15 minutes about 28 PIPS – wrong direction
Move down next 36 minutes about 29 PIPS – right direction
a one minute GBP/JPY chart
This currency pair GBP/JPY spiked up 1st minute about 39 PIPS
Move down next 5 minutes about 40 PIPS
Move up next 19 minutes about 69 PIPS
a one minute GBP/USD chart
This currency pair GBP/USD move down for 7 minutes about 33 PIPS – right direction
Move up next 15 minutes about 36 PIPS – wrong direction
Move down next 15 minutes about 38 PIPS – right direction
a one minute USD/CAD chart
This currency pair USD/CAD move up for 7 minutes about 21 PIPS – right direction
Move down next 41 minutes about 41 PIPS – wrong direction
a one minute USD/JPY chart
This currency pair USD/JPY move up for 38 minutes about 44 PIPS – right direction
I did not enter a trade this time – I was concerned about Treasury Sec Geithner and what he might say!
The next scheduled release of this combination of reports will be on Monday, 03-01-10 at 10:00 AM ET.
I will probably post a “preview” a day or two before.
Stay tuned!
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