...cont'd from yesterday...
In her book Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)
, Kathy Lien reports that she studied the effects of certain Economic Reports on the first 20 minutes of trading after the release of such reports. She says that for the year 2004, the following are the biggest price movers within 20 minutes of the report being released (listed in order from greatest movers to lesser movers): Unemployment (nonfarm payroll), Interest rates (FOMC), Trade Balance, Inflation (CPI), Retail Sales, GDP, Current Accounts, Durable Goods and Foreign Purchase of US Treasuries. She says that while some traders stand aside ahead of and immediately after the release of such reports, other traders use such reports to participate in big market movements.
...cont'd tomorrow
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