The Fundamental FOREX Blog

On Friday, 08-13-10 at 9:55 AM and 10:AM ET the University of Michigan was releasing two monthly reports, Consumer Sentiment and Inflation Expectations.

These were “preliminary” reports.

I did a “preview” of these reports on Thursday, 08-12-10, click here for a review.

Keep this in mind, most FOREX web sites that display a FOREX Calendar show this report as coming out at 10:00 AM ET instead of 9:55 AM.

I use FOREX Factory’s Calendar, FF has provided a button that can be used to acquire news reports at about the same time they are being released. Click here for the FOREX Factory calendar.

Lets see how the stats turned out for this report:

USD U. of Michigan Confidence Stats:

Previous = 67.8

Forecast =  69.4

Actual = 69.6

USD U. of Michigan Inflation Expectations Stats:

Previous = 2.8% ——————revised= 2.7%

Forecast =

Actual = 2.8%

Keep in mind, some of the traders get the U of M reports at 9:55 AM ET and others do not get them until 10:00 AM ET.

Here is how I was set up and what happened:

USD-9-55AM-ET-08-13-10 PreLim
Looking for a 4.0 difference
Actual > Forecast = Good for USD
USD U. of Michigan Confidence
____actual_____forecast_____previous
_____69.6 ______69.4_______67.8
Out at 73.4 or higher – BUY USD/JPY
Out at 65.4 or lower – SELL USD/JPY
Good – “actual” came out higher then “forecast” by 0.2
Good – “actual” came out higher then “previous” by 1.8

I did not enter a trade this time – not enough difference!

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY currency pair chart

The EUR/JPY currency pair at 10:00 AM ET moved down for 33 minutes about 64 PIPS

(EUR/USD)

a one minute EUR/USD currency pair chart

This currency pair EUR/USD currency pair at 10:00 AM ET moved down for 34 minutes about 66 PIPS – RD

(GBP/JPY)

a one minute GBP/JPYcurrency pair chart

This currency pair GBP/JPY currency pair at 10:00 AM ET ranged for 22 minutes

(GBP/USD)

a one minute GBP/USD currency pair chart

This currency pair GBP/USD currency pair at 10:00 AM ET ranged up for 16 minutes
Moved down for 36 minutes about 43 PIPS – RD

(USD/CAD)

a one minute USD/CAD currency pair chart

This currency pair USD/CAD currency pair at 10:00 AM ET moved up 1st 3 minutes about 10 PIPS – RD
Moved down for 14 minutes about 32 PIPS – WD

(USD/JPY)

a one minute USD/JPY currency pair chart

This USD/JPY currency pair at 10:00 AM ET ranged for 36 minutes

This report is next scheduled for release on Friday 09-10-10 at 9:55 and 10:00 AM ET.

I will probably be posting a “preview” of next months reports a day or two before.

Stay tuned!