The Fundamental FOREX Blog

On Thursday, 10-01-09 at 4:30AM ET, the GBP Purchasing Managers Index Manufacturing for September is scheduled for release.

I did a “follow up” post the last time this was released as a “stand alone” report on Friday, 08-07-09, click here for a review.

Also, I did a “preview” post on Sunday, 08-02-09, click here for a review.

This months report is not really a “stand alone” report – the Bank of England is releasing the Credit Conditions Survey at the same time, I do not know how this release will affect the money market. We will find out.

The report is now released by Markit

There is one thing to be aware of, subscribers to Reuters receive the data 2 minutes prior to listed calendar time.

Prior to the present market conditions, a difference of 4 or 5 from the “forecast” could cause a good market move.

Click here to see what went on last month:

This months report is set up as follows:

GBP Purchasing Managers Index Manufacturing Index stats:

Previous = 49.7

Forecast = 50.2

I am going to use a 0.7 difference figure from the “forecast” to indicate a possible surprise to the currency trading market. And will be set up to trade the currency pair GBP/JPY.

If the “actual” comes out higher than the “forecast” by 0.7, that would be good for the GBP and currency pairs involving the GBP could move in favor of the GBP – the opposite of course could happen if the “actual” is less than “forecast”.

Something to think about – the economists believe that the economy is improving and their “forecast” of 50.2 may cause a bigger surprise to traders if the “actual” comes out below “forecast”, it may take a smaller difference – say 0.5 figure for a good move of currency pairs.

Now we all know that past performances are not an indication of future results!

It appears that the next scheduled release of this report will be on Monday, 11-02-09, however, at times scheduling of releases may change.

Stay tuned!