The Fundamental FOREX Blog

On Monday, 02-01-10 at 4:30AM ET, the GBP Purchasing Managers Index Manufacturing report is scheduled for release.

I did a “follow up” post last month on Saturday, 01-09-10 , click here for a review.

This months report is released along with 5 other reports:

GBP Mortgage Approvals
GBP Net Consumer Credit
GBP Net Lending Sec. on Dwellings
GBP M4 Money Supply (MoM) (F)
GBP M4 Money Supply (YoY) (F)

This PMI Manufacturing Index report is now released by Markit

The other reports are released by the Bank of England.

There is one thing to be aware of, subscribers to Reuters receive the data 2 minutes prior to listed calendar time. Be sure to take a look at what happened last month.

Prior to the present market conditions, a difference of 4 or 5 from the “forecast” could cause a good market move.

This months report is set up as follows:

GBP Purchasing Managers Index Manufacturing Index stats:

Previous = 54.1

Forecast = 54.1

Here is how I am set up:

GBP-2-30AM-02-01-10
Looking for a 1.8 change
Actual > Forecast = Good for GBP
GBP Manufacturing PMI
——actual———-forecast———-previous
________________54.1________54.1
out at 55.9 or higher buy GBP/USD
out at 52.3 or lower sell GBP/USD
This is a change from GBP/JPY last month to GBP/USD

I am going to use a 1.8 “actual” difference figure from the “forecast” to indicate a possible surprise to the currency trading market. And will be set up to trade the currency pair GBP/JPY this time.

If the “actual” comes out higher than the “forecast” by 1.8, that would be good for the GBP and currency pairs involving the GBP could move in favor of the GBP – the opposite of course could happen if the “actual” is less than “forecast”.

I did post a “follow Up” soon after, click here to see what happened.

Now we all know that past performances are not an indication of future results!

It appears that the next scheduled release of this report will be on Monday, 03-04-10, however, at times scheduling of releases may change.

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

Stay tuned!