Had another decent deviation on ISM Manufacturing for the USA again today. What a day!! 2 great news trades in 1 day. Of course this is the 1st week of the month which has the most news releases for great forex news trading opportunities. A deviation of +/- 2 or 3 was enough to get a trade. Usually the focus has been on USDJPY when trading news from the USA, but do to the situation in Japan and the global deleveraging causing the Yen to appreciate, it appears more and more that other pairs are getting the good moves. Here are the numbers:
*(US) OCT ISM MANUFACTURING: 56.9 V 54.0E; PRICES PAID: 71.0 V 70.0E
- No revisions
**Sub-indices:
- New Orders Index: 58.9 v 51.1 prior
- Production index: 62.7 v 56.5 prior
- Employment Index: 57.7 v 56.5 prior
- Inventories index: 53.9 v 55.6 prior
So a deviation of +2.9 caused this move. Also there were some afterspike opportunities. Pay attention to the employment sub-index of this number...this gives clues to how the Non-Farm Payroll should come out, of course there is also the ADP number on Wednesday which will give another clue.
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