On Wednesday, 02-03-10 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.
This report was being released alone.
This month I did a “preview” of this report on Tuesday, 02-02-10, click here for a review.
Here is what happened:
USD ISM Non-Manufacturing Composite stats:
Previous = 49.8
Forecast = 51.1
Actual = 50.5
The economists were forecasting an improvement for the economy and the “actual“ did show an improvement over the “previous” report.
USD-8:00AM-02-03-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
——actual———-forecast———-previous
_____50.5_______51.1_________49.8
out at 54.1 or higher – SELL EUR/USD
out at 48.1 or lower – BUY EUR/USD
Bad – “actual” came out lower then “forecast” by 0.6
Good – “actual” came out higher then “previous” by 0.7
I had set up to trade the EUR/USD currency pair if the “actual” report came out higher or lower than the “forecast” by 3.0 or more – which it did not do – so I did not enter a trade.
a one minute EUR/JPY chart
This currency pair EUR/JPY moved down 1st 2 minutes about 21 PIPS
Ranged next 21 minutes
a one minute EUR/USD chart
This EUR/USD currency pair moved down for 47 minutes about 48 PIPS
a one minute GBP/JPY chart
This currency pair GBP/JPY spiked down 1st 2 minutes about 24 PIPS
Moved up next 23 minutes about 36 PIPS.
a one minute GBP/USD chart
This GBP/USD currency pair spiked down 1st 2 minutes about 10 PIPS
Moved up next 12 minutes about 17 PIPS
Moved down next 33 minutes about 52 PIPS
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 48 minutes about 46 PIPS
a one minute USD/JPY chart
This currency pair USD/JPY spiked down 1st 3 minutes about 13 PIPS
Moved up next 22 minutes about 28 PIPS
The next scheduled release of this report will be on Wednesday, 03-03-10 at 10:00 AM ET
I will be probably be writing a “preview” post a day or two before the reports release.
Stay tuned!
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