$ In the Market: Jan 04 - 2010

• U.K. Manufacturing PMI @ 54.1 Vs 52 Expecated: 4:28 AM
  - Initial Reaction: GBPUSD Market Spiked up by about 20 pips.
  - Flirted with Pre-Release Price and then went up about 40 pips.
  - Best Trade Option Sell on 60 MA: Profit Potentail: 120 Pips and Counting.
  




• USA ISM Manufaturing @ 55.9 vs 53.6 Expected
  -GBPJPY Spike of 15 Pips. Flirted with Pre-Release price and moved up 20 Pips.
  - The Move up was slow but steady and lasted for about 10 Mints
  - Best Trade Option Sell 6 min High: Profit Potentail: 140 Pips and Counting.
  

U.K. Manufaturing PMI full Story:

The UK's manufacturing sector expanded at its fastest pace for over two years in December, as new data Monday suggested that the British recovery gathered pace at the end of 2009.
The purchasing managers index for the manufacturing sector rose to 54.1 in December from an unrevised 51.8 in November, Markit Economics and the Chartered Institute of Purchasing and Supply said.

That outcome was much better than expected, with economists surveyed by Dow Jones Newswires last week having estimated the PMI would rise to 51.5.
A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting.

Having Said that, the report persay is not a "Game Changer" for the GBP, hence it was okay to trade against the report.

USA ISM Manufacturing full story

U.S. manufacturing expanded during December, according to a report suggesting strength in the factory sector's recovery. A separate report Monday said U.S. construction spending in November fell.

The Institute for Supply Management's index of the nation's manufacturing activity rose to a better-than-expected 55.9, from 53.6 in November.
Readings above 50 indicate expanding activity. The data showed the manufacturing sector grew for a fifth consecutive month.

Just like the U.K. manufacturing Data , the USA manufacturing data is not a game changer, and it would have been okay to trade against the same.

Jan 1: 2010

$ in Today's Market

January 1, 2010

Key Notes:

• Since Jan 2010 was a Holiday the Blog will start daily updates from
  January 4th 2010.

  
  

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Here’s some fitting news for the very last day of 2009, particularly for
those of us in the forecastin’ business: The trade war rages on.

The U.S. has “won” the latest trade battle with China,
announcing yesterday that it is imposing a 10-15% tariff on $2.8 billion worth
of Chinese steel pipe. (Heh, that’ll teach ’em!) The U.S. International Trade
Commission voted unanimously in Washington to impose duties, saying that Chinese
government subsidies have made an unfair environment for American steel
producers. One could argue this is almost exactly like American subsidies on
corn production, which have made an unfair farming environment for the rest of
the world. But this is different, of course. Steel starts with an “s,” for one
thing… unlike corn.

Joking aside, the trend can’t be denied. In the past few months, we’ve seen
trade squabbles between the U.S. and China over tires, auto parts, chicken feet,
solar panels and now steel. Despite some lip service during President Obama’s
trip to Beijing back in November, there’s been no sign of these tensions easing,
and sooner or later, someone is going to get their feelings hurt. Could make for
an interesting 2010.

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