Forex Markets


On Friday, Feb 26th at 09:42 am New York Time we will have US Chicago PMI coming out. It is expected to read 59.3. Last month it read 61.5.

I recommend trading USD/JPY for this report.

Please read what this indicator means and how it affects the USD/JPY by going to this link: US Chicago PMI

The trigger for this indicator is 7.0 This means that if Chicago PMI comes out at 66.3 or higher, USD/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 52.3 or less, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

To read the after-spike retracement strategy for this report click here: US Chicago PMI (after-spike retracement strategy)

For example: on Jan 29th, US Chicago PMI came out at 61.5, versus an expectation of 57.2. USD/JPY went up by around 30 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts

I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for USD Chicago PMI