The Fundamental FOREX Blog

Tomorrow, Tuesday 02-16-10 at 4:30 AM ET, the GBP Consumer Price Index YoY report will be released.

Also 2 other reports:

GBP Core Consumer Price Index YoY
GBP Retail Price Index YoY

The last time this report was released was on Tuesday, 01-19-10 at 4:30 AM ET .

This is my first posting of these news reports, so there is no previous posting.

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

And Communities and Local Government.

Here is what happened last month:

GBP Consumer Price Index YoY stats:

previous = 1.9%

forecast = 2.6%

Actual = 2.9%

The “forecast” for this report shows a possibility of a small up turn of the GBP economy.

Here is how I was set up for this report last month:

GBP 2-30AM-01-19-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual———-forecast———-previous
_____2.9% ______2.6%________1.9%
Out at 2.8% or higher – BUY GBP/USD
Out at 2.4% or lower – SELL GBP/USD
Good – “actual” came out higher then “forecast” by 0.3%
Good – “actual” came out higher then “previous” by 1.0%

Here are the charts for last month:

a one minute EUR/GBP currency chart

This EUR/GBP currency pair moved  down 1st 8 minutes about 27 PIPS – right direction
Moved up next 15 minutes about 20 PIPS – wrong direction
Moved  down next 18 minutes about 22 PIPS – right direction

a one minute EUR/USD currency chart

This EUR/USD currency pair moved  down for 38 minutes about 68 PIPS

a one minute GBP/CAD currency chart

This GBP/CAD currency pair moved  up 1st 7 minutes about 37 PIPS – right direction
Moved down next 14 minutes about 30 PIPS – wrong direction
Moved  up next 15 minutes about 26 PIPS – right direction

a one minute GBP/CHF currency chart

This GBP/CHF currency pair moved  up for 38 minutes about 76 PIPS – right direction

a one minute GBP/JPY currency chart

This GBP/JPY currency pair moved  up for 8 minutes about 51 PIPS – right direction
Moved down next 12 minutes about 41 PIPS – wrong direction
Ranged for 14 minutes

a one minute GBP/USD currency chart

This GBP/USD currency pair moved  up for 7 minutes about 38 PIPS – right direction
Moved down next 30 minutes about 58 PIPS – wrong direction

Here is what is going on tomorrow:

GBP Consumer Price Index YoY stats:

previous = 2.9%

forecast = 3.6%

Looks like the economists think that the UK’s economy is improving.

Here is how I am set up for tomorrow:

GBP 2-30AM-02-16-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual———-forecast———-previous
________________3.6%________2.9%
Out at 3.8% or higher – BUY GBP/USD
Out at 3.4% or lower – SELL GBP/USD

I did post a “follow up” soon after this news report was over, click here to see what happened.

The next scheduled release of these reports is on Tuesday, 03-16-10 at 5:30 AM ET!

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

Stay tuned!