On Monday, 01-04-09 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.
Here is how this months report was set up and what happened:
GBP-2-30AM-01-04-10
Looking for a 1.8 change
Actual > Forecast = Good for GBP
GBP Manufacturing PMI
———actual——-forecast——-previous
———54.1 ——-52.1 ——— 51.8
out at 53.9 or higher buy GBP/JPY
out at 50.3 or lower sell GBP/JPY
Good – “actual” came out higher then the “forecast” by 2.0
Good – “actual” came out higher then the “previous” by 2.3
Here are the charts:
a one minute EUR/GBP chart
This EUR/GBP currency pair moved up/down/up 1st minute
Moved up next 17 minutes about 13 PIPS – wrong direction
Ranged for 12 minutes
Moved down next 12 minutes about 18 PIPS – right direction
a one minute EUR/JPY chart
This EUR/JPY currency pair continued move up for 46 minutes about 42 PIPS
a one minute EUR/USD chart
This EUR/USD currency pair continued move up for 47 minutes about 50 PIPS
a one minute GBP/CHF chart
This GBP/CHF currency pair spiked up 1st minute about 15 PIPS - right direction
Moved down next 11 minutes about 37 PIPS – wrong direction
Moved up next 34 minutes about 42 PIPS - right direction
a one minute GBP/JPY chart
This GBP/JPY currency pair moved up for 47 minutes about 61 PIPS - right direction
Had a winning trade!!
a one minute GBP/USD chart
This GBP/USD currency pair moved up for 47 minutes about 70 PIPS – right direction
The next time this report is scheduled for release will be on Monday, 02-01-09 at 4:30 AM ET
I will probably post a “preview” a day or two prior.
Stay tuned!
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