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Front running the least secretive data point on the US calendar

The US Chicago PMI at 14.45 GMT is the worst kept secret on the calendar

The Chicago PMI is still a subscription report and those subscribers get the data 3 minutes before the rest of us.

With the development of technology we now usually get the numbers via social media straight after the subs get it. Still, that's not quick enough to beat the price moves so we can usually tell a miss or beat by the price action in USDJPY at 14.42.

This used to have a bigger leading indicator back in my LIFFE days but with so many different data points now it's lost its shine.

Sometimes it can be tradable as a fade, if it moves a decent amount and against the immediate trend. Watch as any moves usually fade as trading by the late comers becomes the subbies profit taking fodder.

We'll be scouring twitter in the run up so keep an eye on our feed @forexlive . I also usually try to print the numbers in the push title at the top of the site so keep an eye there also.

Today we're expecting something around the 52.5 mark. Reuters has 52.5, Bloomies 53.0.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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