The Fundamental FOREX Blog

Tomorrow, Tuesday, 11-17-09 at 4:30 AM ET, the GBP – Consumer Price Index YoY and Core Consumer Price Index YoY reports will be released.

This report will be released along with the GBP – Rtails Price Index YoY.

The last time this report was released was on Tuesday, 10-13-09 at 4:30 AM ET . This will be my first post for these reports.

This report is released by the U.K.s National Statistics on a monthly basis.

Here is what happened last month:

GBP – Consumer Price Index YoY stats:

previous = 1.6%

forecast = 1.3%

Actual = 1.1%
Bad – came out lower then the “forecast” by 0.2%, and lower then the “forecast” by 0.5%.

GBP – Core Consumer Price Index YoY stats:

previous = 1.8%

forecast = 1.7%

Actual = 1.7%
Okay – came out as “forecast“, but – bad – “actual” came out lower then “previous: by 0.1%.

I was set up to trade the currency pair GBP/USD if there was a difference of 0.2% between the “actual” and the “forecast”, and there was – I did enter a small trade and won.

Here are the charts:

a one minute EUR/GBP currency chart

This EUR/GBP currency pair moved up in 10 minutes about 21 PIPS – right direction.

a one minute EUR/USD currency chart

This EUR/USD currency pair ranged for 23 minutes

a one minute GBP/CHF currency chart

This GBP/CHF currency pair continued its move down for 27 minutes about 40 PIPS – right direction.

a one minute GBP/JPY currency chart

This GBP/JPY currency pair continued move down for 11 minutes about 39 PIPS – right direction.

a one minute GBP/USD currency chart

This GBP/USD currency pair continued move down for 10 minutes about 36 PIPS – right direction.

I entered a small winning “scalp” here.

a one minute EUR/JPY currency chart

This EUR/JPY currency pair ranged.

Here is the set up for tomorrows report:

GBP – Consumer Price Index YoY stats:

previous = 1.1%

forecast = 1.4%

The “forecast” for this report shows a possibility of a up turn of the GBP economy.

GBP – Core Consumer Price Index YoY stats:

previous = 1.7%

forecast = 1.7%

I will be watching the currency pair GBP/USD – if there is a full difference of 1.0% from the “forecast”, I may enter a trade.

I did post a “follow up” of this report soon after, click here to see what happened.

The next scheduled release of these reports is on Tuesday, 12-22-09 at 4:30 AM ET.

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

Stay tuned!