The Fundamental FOREX Blog

On Thursday, 06-30-10 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, 06-29-10, click here for a review.

Let us check out what happened:

USD ADP Non- Farm Employment change stats:

Previous = 55K—————revised = 57K

Forecast = 58K—————revised = 59K

Actual = 13K

Here is how I was set up and what happened:

USD-8-15AM-ET-06-30-10
Looking for a 50K difference
Actual > Forecast = Good for USD
USD ADP Non-Farm Employment Change
——actual———-forecast———-previous
________________58K________55K
_____13K_______ 59K________ 57K
out at 108K or higher – SELL GBP/USD
out at 8K or lower – BUY GBP/USD
Bad – “actual” came out lower then “forecast” by 45K
Bad – “actual” came out lower then revised “forecast” by 46K
Bad – “actual” came out lower then “previous” by 42K
Bad – “actual” came out lower then revised “previous” by 44K

I did enter a trade this time, GBP/USD – it was a loser!!

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down for 3 minutes about 32 PIPS
Moved up for 14 minutes about 35 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 6 minutes about 20 PIPS – wrong direction
Moved up for 27 minutes about 21 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 10 minutes about 37 PIPS
Ranged for 16 minutes

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 51 minutes about 50 PIPS – wrong direction
Traded here and it was a loser

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up for 56 minutes about 77 PIPS wrong direction

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair moved down for 4 minutes about 19 PIPS – right direction
Moved up for 26 minutes about 21 PIPS - wrong direction

The next ADP report is scheduled for Wednesday, 08-04-10 at 8:15 AM ET.

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

Stay tuned!