On Tuesday 10-06-09 at 4:30 AM ET the GBP Industrial Production MoM and YoY, and Manufacturing Production MoM and YoY reports were released.
These two reports stood alone at this time, the last time they were reported alone was on Tuesday, 09-08-09 at 4:30 AM ET.
On Friday, 09-11-09 I wrote a “follow” post of last months report , click here for a review.
On Monday 10-05-09, I wrote a “preview” post of this months report, click here for a review.
The Industrial Production report appears to have the greatest impact on the currency markets, but the impact can be even greater if the Industrial Production and Manufacturing Production both come out moving in the same direction, which they did this month.
These reports are released by the UK National Statistics Publication Hub.
Here is what happened for 10-06-09 reports.:.
GBP – Industrial Production MoM and YoY stats:
Previous = 0.5%
Forecast = 0.1%
Actual = -2.5%
Bad – lower than the “forecast by 2.6% and lower than the “previous” by 3.0%
Manufacturing Production MoM and YoY stats:
Previous = 0.9% revised = 0.7%
Forecast = 0.3%
Actual = -1.9%
Bad – lower than “forecast” by 2.2%, lower than the “previous” by 2.8%, and lower than the “previous” revision by 2.6%.
Both reports were complimentary and the four GBP involved currency pairs I watch had a good move – I even traded the GBP/USD pair and had a small PIP win.
Here are the charts:
a one minute GBP/USD chart
At the report release, this GBP/USD currency pair moved down about 74 PIPS in 8 minutes, which was against the GBP.
a one minute GBP/CHF chart
At the report release, this GBP/CHF currency pair moved down about 85 PIPS in 54 minutes, which was against the GBP.
a one minute GBP/JPY chart
At the report release, this GBP/JPY currency pair moved down about 65 PIPS in 32 minutes, which was against the GBP.
a one minute EUR/GBPchart
At the report release, this EUR/GBP currency pair moved up about 48 PIPS in 22 minutes, which was against the GBP.
The other two currency pairs I monitor, EUR/JPY and EUR/USD did not have any real reaction to the reports.
The next scheduled release of this report will be on Thursday, 11-05-09 at 5:30 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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