The Fundamental FOREX Blog

On Wednesday, 09-01-10 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 enter a trade this time of the currency pair USD/JPY – it was a winner!!!

I posted a video of this news report, click here for the post with the video.

Here is the set up for this month:

USD ISM Manufacturing PMI stats:

Previous = 55.5

Forecast = 53.2

Actual = 56.3

Here is how I was set up and what happened.

USD-10-00AM-ET-09-01-10
Looking for a Change of 2 to 3
Actual >  Forecast = Good for USD
USD ISM Manufacturing PMI
——actual——-forecast——-previous
_____56.3__________53.2_______55.5
out at 55.2 or higher – BUY USD/JPY
out at 51.2 or lower – SELL USD/JPY

Good – “actual” came out higher then “forecast” by 3.1
Good – “actual” came out higher then “previous” by 0.8

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This currency pair EUR/JPY spiked up 1st minute about 59 PIPS
Moved down for 24 minutes about 42 PIPS

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/USD moved up 1st minute about 6 PIPS
Moved down for 29 minutes about 40 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY moved up 1st 3 minutes about 69 PIPS
Ranged!

(GBP/USD)

a one minute GBP/USD chart

This currency pair GBP/USD moved up 1st minute about 15 PIPS
Moved down for 6 minutes about 29 PIPS – right direction
Moved up for 10 minutes about 30 PIPS – wrong direction

(USD/CAD)

a one minute USD/CAD chart

This currency pair USD/CAD moved down for 18 minutes about 52 PIPS – right direction
Moved up for 9 minutes about 22 PIPS – wrong direction

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY moved up for 6 minutes about 42 PIPS – right direction
Moved down for 20 minutes about 15 PIPS – wrong direction
1 winning trade!!

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

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

Stay tuned!