On Tuesday, 12-08-09 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.
On Monday, 12-07-09, 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 last month:
Looking for a 0.4% difference
Actual > Forecast = Good for GBP
GBP – Industrial Production MoM and YoY stats:
Previous = 1.6% revised = 1.3%
Forecast = 0.5%
Actual = 0.0%
Bad – lower then “forecast” by 0.5%
Bad – lower then “previous” by 1.6%
Bad – lower then revised “previous” by 1.3%
Manufacturing Production MoM and YoY stats:
Previous = 1.7% revised = 1.5%
Forecast = 0.5%
Actual = 0.0%
Bad – lower then “forecast” by 0.5%
Bad – lower then “previous” by 1.7%
Bad – lower then revised “previous” by 1.5%
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 loss.
Here are the charts:
a one minute EUR/GBP chart
At the report release, this EUR/GBP currency pair moved up 1st minute about 10 PIPS – right direction
Moved down next 5 minutes about 10 PIPS – wrong direction
Moved up next 42 minutes about 28 PIPS – right direction
a one minute EURJPY chart
At the report release, this EUR/JPY currency pair moved down/up/down 1st 2 minutes about 14 PIPS
Moved up next 4 minutes about 18 PIPS
Ranged!
a one minute EUR/USD chart
At the report release, this EUR/USD currency pair moved up in 33 minutes about 35 PIPS.
a one minute GBP/CHF chart
At the report release, this GBP/CHF currency pair moved down 1st minute about 23 PIPS – right direction
Moved up next 5 minutes about 20 PIPS – wrong direction
Moved down next 26 minutes about 48 PIPS – right direction
a one minute GBP/JPY chart
At the report release, this GBP/JPY currency pair moved down 1st 2 minutes about 25 PIPS – right direction
Moved up next 3 minutes about 35 PIPS – wrong direction
Moved down next 46 minutes about 74 PIPS – right direction
a one minute GBP/USD chart
At the report release, this GBP/USD currency pair moved down 1st minute about 22 PIPS – right direction
Moved up next 5 minutes about 35 PIPS – wrong direction
Moved down next 17 minutes about 40 PIPS – right direction
Moved up next 16 minutes about 28 PIPS – wrong direction
Made 3 trades with this GBP/USD currency pair – lost the first trade – won the second trade – lost the third trade.
The next scheduled release of this report will be on Tuesday, 01-12-10 at 4:30 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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