The Fundamental FOREX Blog

On Friday, 01-22-09 at 4:30 AM ET, the GBP Retail Sales MoM report was released.

This report was released with one other economic news report.

GBP Retail Sales YoY

I posted a “preview” post of this report, click here to see what happened.

This report is released by the U.K.s National Statistics on a monthly basis.

For an idea how this report worked out, here is what happened:

GBP Retail Sales MoM stats:

previous = -0.3%

forecast = 1.3%

Actual = 0.3%

Here is how I was set up:

GBP-2-30AM-01-22-10
Looking for a 1.0%  difference
Actual > Forecast = Good for GBP
GBP Retail Sales m/m
——actual———-forecast———-previous
_____0.3%_______1.3%_________-3%
Out at 0.3% or lower -  SELL GBP/USD
Out at 2.3% or more -  BUY GBP/USD
Bad – “actual” came out lower then “forecast” by 1.0%
Good – “actual” came out higher then “previous” by 0.6%

This is a mixed bag – I did trade a couple of “scalps” even though it was hard to tell what was going to happen.

Here are the charts:

a one minute EUR/GBP currency chart

This EUR/GBP currency pair moved up 1st six minutes about 26 PIPS – right direction???
Moved down the next 54 minutes about 28 PIPS – wrong direction ???

a one minute EUR/JPY currency chart

This EUR/JPY currency pair ranged  for 7 minutes
moved up next six minutes about 47 PIPS
Moved down the next 37 minutes about 40 PIPS

a one minute EUR/USD currency chart

This EUR/USD currency pair minor move up then down 1st six minutes
Moved up the next 12 minutes about 27 PIPS
Ranged

a one minute GBP/CHF currency chart

This GBP/CHF currency pair move down for 8 minutes about 50 PIPS – right direction???
Moved up the next 10 minutes about 40 PIPS – wrong direction ???

a one minute GBP/JPY currency chart

This GBP/JPY currency pair spiked down for 1st minute
Ranged for 6 minutes
Moved up the next 11 minutes about 70 PIPS – wrong direction ???
Moved down the next 32 minutes about 50 PIPS – right direction???

a one minute GBP/USD currency chart

This GBP/USD currency pair spiked down for 1st minute
Moved up/down the next 6 minutes  – had 2 winning trades here
Moved up the next 11 minutes about 61 PIPS – wrong direction ???

The next scheduled release of these reports is on Friday, 02-19-10 at 4:30 AM ET.

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

Stay tuned!