When you become so data dependent, the fed creates market gaps. Yesterday on GDP we traded 60 pct of the daily range in 13 seconds. Today the eurusd gapped from 1.0973 to 1.1020/40 which will be filled, probably not today though, because the market is so wrong footed. So even when we have traded so much at 1.09 in the last 3 weeks, we can still get 50 pip gaps on data. There are so many questions on ECI.. On min wages, it’s difficult to know if this will show up in the data but California and New York state minimum wage hikes go into effect Jan. 2016. The Implied probability of a rate hike has fallen from 52% to 40% on the back of the weak ECI numbers
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