The Fundamental FOREX Blog

On Monday, 08-02-10 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 is released monthly,

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.

I did not enter a trade this time!!

Here is the set up for this month:

USD ISM Manufacturing PMI stats:

Previous = 56.2

Forecast = 54.3—————-revised= 54.2

Actual = 55.5

Here is how I was set up and what happened.

USD-10-00AM-ET-08-02-10
Looking for a Change of 2 to 3
Actual >  Forecast = Good for USD
USD ISM Manufacturing PMI
——actual——-forecast——-previous
_______________54.3_______56.2
_____55.5______ 54.2
out at 56.3 or higher – BUY USD/JPY
out at 52.3 or lower – SELL USD/JPY
Good – “actual” came out higher then “forecast” by 1.2
Good – “actual” came out higher then revised “forecast” by 1.3
Bad – “actual” came out lower then “previous” by 0.7

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This currency pair EUR/JPY moved up for 24 minutes about 42 PIPS

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/USD moved down 1st 5 minutes about 8 PIPS
Moved up next 56 minutes about 62 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY spiked up/down 1st minute about 43 PIPS/ 10 PIPS
Ranged for 24 minutes

(GBP/USD)

a one minute GBP/USD chart

This currency pair GBP/USD moved down 1st 3 minutes about 8 PIPS
Moved up next 52 minutes about 43 PIPS

(USD/CAD)

a one minute USD/CAD chart

This currency pair USD/CAD moved down for 38 minutes about 36 PIPS

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY spiked up/down 1st minute about 28 PIPS/ 5 PIPS
Moved down next 51 minutes about 46 PIPS

The next scheduled release of  this report will be on Wednesday, 09-01-10 at 10:00 AM ET along with several other USD reports.

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

Stay tuned!