10/13/2011 Monthly Trade Balance (0230 HI time / 0830 EDT)
Previous Revision: -0.8B to -45.6B
Spike / retrace
Started @ 85.03
1st Peak @ 84.64 – 0233 (3 min)
Retrace to 85.01 – 0239 – 0242 (9-12 min)
Notes: Report slightly exceeded forecast, but previous report revised mildly downward. Report broke on Thursday at the same time as weekly unemployment claims (matched forecast at 404K). I would not trade this report with 2 medium movers breaking at the same time. The long tail on the 0231 candle is typical of the unemployment report.