The Fundamental FOREX Blog

Tomorrow, Wednesday, 03-03-10 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.

Tomorrows report is being released alone.

Last month I did a “follow up” of this report on Tuesday, 02-09-10, click here for a review.

Here is what is happening tomorrow:

USD ISM Non-Manufacturing  Composite stats:

Previous = 50.5

Forecast = 51.0

The economists are forecasting an improvement for the economy.

Here is my set up for tomorrow.

USD-10-00AM ET-03-03-10
Looking for a 3 difference
Actual > Forecast = Good for USD
USD ISM Non-Manufacturing PMI
——actual———-forecast———-previous
________________51.0_________50.5
out at 54.0 or higher – SELL EUR/USD
out at 48.0 or lower – BUY EUR/USD

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 51.0.

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

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

The next scheduled release of this report is on Monday, 04-05-10 at 10:00 AM ET, at this time it appears that it will not be a stand alone report.

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

Stay tuned!