Tomorrow, Wednesday, 02-10-10 at 4:30 AM ET the GBP Industrial Production MoM and YoY, and Manufacturing Production MoM and YoY reports will be released.
These two reports stand alone at this time.
On Wednesday, 01-20-10, I wrote a “follow up” post of last months results, click here for a review.
The Industrial Production reports appear to have the greatest impact on the currency markets, but the impact can be even greater if the Industrial Production and Manufacturing Production both come out moving in the same direction, both negative or positive.
Check out the “follow up” link above to see what happened with the report last month.
These reports are released by the UK National Statistics Publication Hub.
Lets set this up for 02-10-10.
GBP – Industrial Production MoM stats:
Previous = 0.4%
Forecast = 0.2%
Manufacturing Production MoM stats:
Previous = 0.0%
Forecast = 0.4%
Here is how I am set up for tomorrow:
GBP-2-30AM-02-10-10
Looking for a 0.4% difference
Actual > Forecast = Good for GBP
GBP Industrial Production (MoM)
——actual———-forecast———-previous
________________0.2%________0.4%
Out at 0.6% or higher – BUY GBP/JPY
Out at -0.2% or lower- SELL GBP/JPY
GBP Manufacturing Production m/m
________________0.4%________ 0.0%
Watch for conflict
Last month I was set up to trade the GBP/USD currency pair – but there was not enough “difference” for me to venture a trade.
But after going back over my records, it appears that the currency pair GBP/JPY could be a better trade – we shall see!
I did post a “follow up” report soon after, click here to see what happened.
The next scheduled release of this report will be on Tuesday, 03-09-10 at 4:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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