Monday, December 05, 2011

US ISM Non-Manufacturing - Nice Dev but muted action

This news figure has responded well to the small deviations the past 2 months but they were not big enough to get interesting in. Back in September there was a larger deviation but the spike was just a quick blip and then reversed for 45 minutes, but then later rallied...a fake out!

Today deviation was larger but still not big enough to get too interested in this other than quick scalps...

ISM non-manufacturing actual was 52.0 versus the expected 53.8

CADJPY did move down and continue to tick lower. About 20 minutes before the release Merkel and Sarkosy made some comments that brought a bit of risk appetite to the market.

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