3/5/2014 FED Beige Book (1400 EST)
DULL REACTION (No Fill)
Started @ 101.58
Movement between 1401 and 1404 bars spanned 101.55 – 101.60.
1st Peak @ 101.29 – 1406 (6 min)
Reversal to 101.42 – 1409 (9 min)
2nd Peak @ 101.22 – 1415 (15 min)
Reversal to 101.54 – 1425 (25 min)
Notes: The Federal Reserve said today that economic activity continued to expand at a moderate pace during the reporting period of January to early February. Eight Districts reported moderate growth rates in economic activity as during the previous reporting period, while modest declines were reported for the Midwest and Northeast regions being attributed to the cold weather. The DX had minimal movement, and mostly chopped sideways. This resulted in only a narrow range of 5 ticks in the first 4 bars, so cancel the order with JOBB after 2 min. It eventually caused a reaction on the :05 bar for a 1st peak of 29 ticks in 2 min. After that it reversed for 13 ticks in the next 3 min before achieving a 2nd peak of 7 more ticks. Then it reversed for 32 ticks in the next 10 min.