The Fundamental FOREX Blog

Tomorrow, Wednesday 10-14-09 at 4:30 AM ET, the GBP Claimant Count Change and ILO Unemployment Rate will be released.

These two reports will be released with ourf other economic news reports – GBP Jobless Claims Change, GBP Manufacturing Unit Wage Cost (3MoY),  GBP Average Earnings inc bonus (3MoY)  and GBP Retail Price Index (MoM) (SEP).

The last time these two were released was on Wednesday, 09-16-09 at 4:30 AM ET . Click here to check out the “follow up”.

Both of these reports are released by the U.K.s National Statistics on a monthly basis.

Last month the Unemployment rate went down, good, and the Claimant Count also went down, which was good as well. Four currency pairs moved, but one GBP/JPY moved against the GBP. However, the GBP/USD,  GBP/CHF and EUR/GBP moved well in favor of the GBP.

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = 24.4K

forecast = 25.1K

GBP ILO Unemployment Rate stats:

previous = 7.9%

forecast = 8.0%

The “forecast” for both of these reports show a possibility of a down turn of the GBP economy.

I will be watching the currency pair GBP/USD – check last months “follow up” post to see why – click here.

In the past, before the current world economic situation, the Claimant Count Change had a greater influence on the FOREX market, but now it appears that the Unemployment rate is getting stronger.

I will be keeping an eye on both the Claimant Count change and the Unemployment Rate, but mostly the Unemployment Rate – if there is a difference of 0.1% to 0.2%, chances are I will trade the GBP/USD currency pair – hopefully they both come out without any conflict.

I will post a “follow up” of this report soon after.

The next scheduled release of these reports is on Wednesday, 11-11-09 at 5:30 AM ET.

I will probably post a “preview” a day or two prior.

Stay tuned!