This indicator is created by surveying Purchase Managers in the Chicago area, which is a key manufacturing part of the USA. Click here for a link to more info about this economic indicator.
Anyhow the news was suppose to come out at 9:45 am EST but the number gets released to a special group of paid subscribers 3 minutes earlier, my service get the number from this group. The expected number was 49.5 and a deviation of +1.5 was the trigger to sell GBPUSD and -1.7 was the trigger to buy. The number was much higher at 61.5 and I sold...the market dropped about 10 pips and not much else, I waited for a reaction 3 minutes later from the main market...not much.
Anyhow the news was suppose to come out at 9:45 am EST but the number gets released to a special group of paid subscribers 3 minutes earlier, my service get the number from this group. The expected number was 49.5 and a deviation of +1.5 was the trigger to sell GBPUSD and -1.7 was the trigger to buy. The number was much higher at 61.5 and I sold...the market dropped about 10 pips and not much else, I waited for a reaction 3 minutes later from the main market...not much.
I managed to get out with a couple of pips...the market was volitile and the spreadbetting platform changed the price when I exited, so I lost a little bit. Soon after a tape bomb hit the market about a possible us sanction against china, and the GBPUSD moved up. Charts are below, you can see how small the move was compared to the tape bomb that hit soon after.
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