On Tuesday 01-26-10 at 4:30 AM ET, the GBP – Prelim Gross Domestic Product QoQ was released.
This report was released with two other economic news report.
GBP – Mortgage Approvals
GBP – Index of Services 3m/3m
The “preview” post on Monday, 01-25-10 was my first post of this report, click here to see that post.
This report is released by the U.K.s National Statistics on a monthly basis.
And British Bankers Association
For an idea how this report worked out, here is what happened:
GBP – Prelim Gross Domestic Product QoQ stats:
previous = -0.2%
forecast = 0.4%
Actual = 0.1%
Here is how I was set up and what happened:
GBP-2-30AM-01-26-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Gross Domestic Product (QoQ-P)
——actual———-forecast———-previous
____0.1%________0.4%________-0.2%
out at 0.6% or higher – BUY GBP/USD
out at 0.2% or lower – SELL GBP/USD
Bad – “actual” came out lower then the “forecast” by 0.3%
Good – “actual” came out higher then “previous” by 0.1%
I did trade this time and did have a winner!
a one minute EUR/GBP currency chart
This EUR/GBP currency pair moved up for 58 minutes about 60 PIPS – right direction
a one minute EUR/JPY currency chart
This EUR/JPY currency pair moved up/down 1st 10 minutes about 15 PIPS/ 21 PIPS.
a one minute EUR/USD currency chart
This EUR/USD currency pair ranged!
a one minute GBP/CHF currency chart
This GBP/CHF currency pair moved down for 60 minutes about 110 PIPS – right direction
a one minute GBP/JPY currency chart
This GBP/JPY currency pair moved down for 22 minutes about 75 PIPS – right direction
a one minute GBP/USD currency chart
This GBP/USD currency pair moved down for 60 minutes about 90 PIPS – right direction
Had a winning trade here!
The next scheduled release of these reports is on Friday, 02-23-10 at 4:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
