USD ISM Manufacturing Index*neg. like the rest?*

So are we looking at less than expected news here? seems like the US economy is the suck right now. what are we expecting for tomorrow news?

You have to wait and figure out.
I suspect that we will see some pre-effects and dollar selling across the board ahead of the release as well.

I also think dollar could rebound to any positive report..

Thing is, housing slump starts to affect the general US economy and whenever the market gets the feeling of slowing US growth the dollar is sold across the board.

Also watch for Bernanke speech for any "inflation risks to the upside" statement. Although he would take this tone too down given recent weakness of news. I would personally long USD if he is still worried about inflation; even little.

thanks for your thoughts

The chicago number is volatile and unreliable. I expect to see good number tomorrow and a big sell off on the euro.

ISM and Construction Spending was very USD negative indeed but after 30 minutes, USD was lower than were it started!

ISM of 51.2 has been said to be the lowest in 3 yrs and the Fed Fund future rates is indicating a "Rate Cut". THese should totally short the USD.

Hmm...

Either:
a) 1.9040 and 1.9100 is well protected by options
b) "smart money" player mentioned by Mr. Trend
c) "profit taking" mentioned by NewsTraderFX

we have massive divergence on the gbp off the 1hr chart via macd, hammer at RN 9100 level... there are some deep areas for price to retrace to based on the swing low to swing high off the 4hr chart clocking an uptrend line at 9034 if this breaks we could see a further run down in price...

Actually, sorry guys, it's just me -- I'm short 2500 lots... should I go ahead and cover and let GBP run up?

Maybe I'll just scale out...

Naw go ahead and put more lots on the table shorting the gbp that will really screw with people lol

its showing some resilience at the current level... 9080 to 9060 acting as short term support..

wtf is short term support? is that a lingo for news trading fa, or TA words for hovering around that area? Could have sworn this was a news trading room rather than TA room.

sorry will keep it to news only then didnt know u guys are so strict...

its not strict, i just dont know the lingo. You can post all you want, i am just trying to understand, trading is always a learning process, thanx for your input.

The ISM spiked up 30 pips today when the news came out. Since the numbers came out bad, i read somewehre worse in 3 years, this caused the markets to move. Of course, since it was a fast mover, the price retraced down, and might go back to its original price pre-news of ISM (support resistance level?). My game is if i cant get in the spike, i would trade a retrace. This one was (is?) good for a retrace. As Merlin says, "Fade That Shit." But pick your battles when fadding, not all will fade....

Dollar's fall resumes again after another piece of disappointing US data. ISM manufacturing index dropped from 52.9 to 51.2 in Oct, lowest reading since Jun 03. Even though above 50 still indicates expansion, the pace is continuing to slow to near flat. Also, price index fell to 47, below 50 (deflationary) for the first time in 14 moths. Housing data is also disappointing today, with Sep pending home sales dropping more than expected by 1.1% and construction spending dropped by 0.3%. ADP employment report did give an upside surprise by rising to 128k in Oct but reaction is, again, muted.

Technically spending, divergence condition is still there which suggesting downside momentum of dollar is still diminishing. While one might hold on with short dollar position on hand, it's not advisable to jump in at this moment.

Hi to All news traders! Cought 25 pips on GBP/USD, went long from 9105 to 9130. My broker server went down for 5 min during this news release, but thanks to TP, it was executed correctly Next trade on november the 3rd