The Fundamental FOREX Blog

Tomorrow, Wednesday 01-20-10 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 Claimant Count Rate
GBP Average Earnings inc bonus (3MoY)
GBP Average Earnings ex bonus (3MoY)        ?????
GBP Bank of England Policy Meeting Minutes

I did a “follow up” post of last months report, click here to see what happened.

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

GBP Policy Meeting Minutes is released by the Bank of England.

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = -16.3K

forecast = -3.3K

GBP ILO Unemployment Rate stats:

previous = 7.9%

forecast = 8.0%

These two reports “forecast” appear to be complimentary.

Here is how I am set up for a possible trade.

GBP-2-30AM-01-20-10
Looking for a 20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
——actual———-forecast———-previous
________________-3.3K________-6.3K
out at 16.7K or higher – SELL – GBP/JPY
out at -23.3K or lower – BUY – GBP/JPY
GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
________________8.0%________7.9%

Watch that both reports move in the same direction

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 Wednesday, 02-17-10 at 5:30 AM ET.

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

Stay tuned!