The Fundamental FOREX Blog

On Tuesday, 12-01-09 at 4:30AM ET, the GBP Purchasing Managers Index Manufacturing report was released.

You can see my “preview” post by clicking here.

This report is released by “Markit” and released 2 minutes prior to subscribers of Reuters. So, you will see the currency markets start to move 2 minutes prior to the release to the general public.

I have an earlier post of another economic news release that illustrates how to get the news release within just a few moments of the scheduled release, click here to check it out.

For this report I had set up to trade the currency pair GBP/JPY using a 1.8 difference between the “actual” and the “forecast” – the “forecast” was 54.1 and the “actual” came out lower at 51.8, a 2.3 difference which was not good for the GBP, but was good enough for a trade against the GBP.

This months report was set up as follows:

GBP Purchasing Managers Index Manufacturing Index stats:

Previous = 53.7 revised = 53.4

Forecast = 54.1

Actual = 51.8
Bad – “actual” came out lower then the “forecast” by 2.3, and lower then the “previous” by 1.9 – and lower then the revised “previous” by 1.6.

Here are the charts:

a one minute EUR/GBP chart

This EUR/GBP currency pair had a minor move up 1st 3 minutes
then it moved down the next 40 minutes about 29 PIPS – wrong direction.

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down for 36 minutes about 29 PIPS

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 17 minutes about 14 PIPS.

a one minute GBP/CHF chart

This GBP/CHF currency pair ranged for 15 minutes
Then moved up the next 29 minutes about 53 PIPS – wrong direction.

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down the first 3 minutes about 29 PIPS – right direction – made a trade here!
Ranged the next 17 minutes.
Moved up the next 24 minutes about 51 PIPS – wrong direction.

a one minute GBP/USD chart

This GBP/USD currency pair moved down in 15 minutes about 23 PIPS – right direction

moved up the next 29 minutes about 63 PIPS – wrong direction.

The next time this report is scheduled for release will be on Monday, 01-04-09 at 4:30 AM ET

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

Stay tuned!