The Fundamental FOREX Blog

On Thursday, 11-05-09 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, 10-06-09 at 4:30 AM ET.

On Wednesday, 11-04-09, 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 11-05-09 reports.:.

GBP – Industrial Production MoM and YoY stats:

Previous = -2.5% revised = -2.6%

Forecast = 1.2%

Actual = 1.6%

Good – higher then the “forecast by 0.4% and higher then the “previous” by 4.1%, and higher then the revised “previous” by 4.2%

Manufacturing Production MoM and YoY stats:

Previous = -1.9% revised = -2.0%

Forecast = 1.1%

Actual = 1.7%

Good – higher then “forecast” by 0.6%, higher then the “previous” by 3.6%, and  higher then the “previous” revision by 3.7%.

Both reports were complimentary and all six currency pairs I watch had a good move – I even entered 3 trades of the GBP/USD pair and had a small PIP win.

Here are the charts:

a one minute EUR/GBPchart

At the report release, this EUR/GBP currency pair moved up about 22 PIPS in 9 minutes – wrong direction – reversed down next 9 minutes about 26 PIPS – right direction.

a one minute EURJPY chart

At the report release, this EUR/JPY currency pair moved up about 28 PIPS in 11 minutes – reversed down next 26 minutes about 32 PIPS .

a one minute EUR/USD chart

At the report release, this EUR/USD currency pair moved up about 20 PIPS in 13 minutes – reversed down next 26 minutes about 20 PIPS.

At the report release, this GBP/CHF currency pair moved down about 39 PIPS in 8 minutes – wrong direction – then reversed up the next 8 minutes about 41 PIPS – right direction.

a one minute GBP/JPY chart

At the report release, this GBP/JPY currency pair moved down about 25 PIPS in 1 minute – wrong direction – then reversed up the next 15 minutes about 55 PIPS – right direction – then reversed down next 21 minutes about 45 PIPS – wrong direction.

a one minute GBP/USD chart

At the report release, this GBP/USD currency pair moved down about 28 PIPS in 7 minutes – wrong direction – reversed up next 9 minutes about 47 PIPS - right direction.

Had 3 trades with this currency pair, one loser and two wins! I entered my first trade a little too soon and my “stop loss” was just a little too tight.

The next scheduled release of this report will be on Tuesday, 12-08-09 at 4:30 AM ET.

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

Stay tuned!