The Fundamental FOREX Blog

On Wednesday 12-16-09 at 4:30 AM ET, the GBP Claimant Count Change and ILO Unemployment Rate will be released.

These two reports will be released with four other economic news reports -

GBP Jobless Claims Change,
GBP Manufacturing Unit Wage Cost (3MoY),
GBP Average Earnings inc bonus (3MoY)
GBP Retail Price Index (MoM)

I posted a “preview” on Tuesday, 12-15-09, click here for a review.

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

Here are the results of those reports:

GBP Claimant Count Change Stats

previous = 12.9K revised =   5.9K

forecast = 13.9K

actual = -6.3K

Good – “actual” came out lower then “forecast” by 20.2K
Good – “actual” came out lower then “previous” by 19.2K
Good – “actual” came out lower then revised “previous” by 12.2K

GBP ILO Unemployment Rate Stats

previous = 7.8%

forecast = 7.9%

actual = 7.9%

Good – “actual” came out just as “forecast”.
Bad – “actual” came out higher then “previous” by 0.1%.

Here is how I was set up:
GBP-2-30AM-12-16-09
20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
.    actual forecast previous
.                 13.9K .             12.9K
.   6.3K       13.9K .          5.9K
out at 04.6K or lower – BUY – GBP/JPY
out at 44.6K or higher – SELL – GBP/JPY
GBP ILO Unemployment Rate
.    actual     forecast          previous
.     7.9%        7.9%             7.8%
Actual < Forecast = Good for GBP

Here are the charts:

a one minute EUR/GBP currency pair

This EUR/GBP currency pair spiked down 1st two minutes about 15 PIPS – right direction -
ranged up for 28 minutes about 12 PIPS – wrong direction -
moved down for 23 minutes about 33 PIPS – right direction

a one minute EUR/JPY currency pair

This EUR/JPY currency pair continued up in same direction!.

a one minute EUR/USD currency pair

This EUR/USD currency pair continued up in same direction!

a one minute GBP/CHF currency pair

This GBP/CHF currency pair spiked up 1st two minutes about 29 PIPS – right direction -
ranged down for 28 minutes about 25 PIPS – wrong direction -
moved up for 24 minutes about 57 PIPS – right direction

a one minute GBP/JPY currency pair

This GBP/JPY currency pair spiked up 1st two minutes about 40 PIPS – right direction -
ranged for 28 minutes – traded a winner here!
moved up for 22 minutes about 50 PIPS – right direction

a one minute GBP/USD currency pair

This GBP/USD currency pair spiked up 1st two minutes about 31 PIPS – right direction -
ranged for 8 minutes -
moved up for 22 minutes about 73 PIPS – right direction

I will probably set up to trade this currency pair next time!

The next release of these two reports will be Wednesday, 01-20-10 at 4:30 AM ET.

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

Stay tuned!