On Wednesday, 02-10-10 at 4:30 AM ET the GBP Industrial Production MoM and YoY, and Manufacturing Production MoM and YoY reports were released.
These two reports were standing alone at this time.
On Tuesday, 02-09-10 I wrote a “preview” post of this months set up, 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 which is what happened this time.
These reports are released by the UK National Statistics Publication Hub.
Here is how it was set up for 02-10-10:
GBP – Industrial Production MoM stats:
Previous = 0.4%
Forecast = 0.2%
Actual = 0.5%
Manufacturing Production MoM stats:
Previous = 0.0%_________revised = 0.2%
Forecast = 0.4%
Actual = 0.9%
Here is how I was set up and what happened:
GBP-2-30AM-02-10-10
Looking for a 0.4% difference
Actual > Forecast = Good for GBP
GBP Industrial Production (MoM)
——actual———-forecast———-previous
_____0.5%___________0.2%________0.4%
Out at 0.6% or higher – BUY GBP/JPY
Out at -0.2% or lower- SELL GBP/JPY
Good – “actual” came out higher then “forecast” by 0.3%
Good – “actual” came out higher then “previous” by 0.1%
GBP Manufacturing Production m/m
________________0.4%________ 0.0%
______0.9%______ 0.4%________ 0.2%
Good – “actual” came out higher then “forecast” by 0.5%
Good – “actual” came out higher then “previous” by 0.9%
Good – “actual” came out higher then revised “previous” by 0.7%
Here are the charts:
a one minute EUR/GBP chart
At the report release, this EUR/GBP currency pair moved up 1st 4 minutes about 6 PIPS – wrong direction
Moved down next 49 minutes about 27 PIPS – right direction
a one minute EURJPY chart
At the report release, this EUR/JPY currency pair moved down for 8 minutes about 11 PIPS
Moved up next 32 minutes about 52 PIPS
a one minute EUR/USD chart
At the report release, this EUR/USD currency pair moved down for 14 minutes about 9 PIPS
Moved up next 26 minutes about 43 PIPS
a one minute GBP/CHF chart
At the report release, this GBP/CHF currency pair moved down 1st 3 minutes about 12 PIPS – wrong direction
Moved up next 46 minutes about 58 PIPS – right direction
a one minute GBP/JPY chart
At the report release, this GBP/JPY currency pair moved down 1st 4 minutes about 15 PIPS – wrong direction
Moved up next 36 minutes about 73 PIPS – right direction
Executed 2 winning trades with this currency pair!!!
a one minute GBP/USD chart
At the report release, this GBP/USD currency pair moved down 1st 4 minutes about 18 PIPS – wrong direction
Moved up next 36 minutes about 69 PIPS – right direction
I did not make any trades this time!
The next scheduled release of this report will be on Tuesday, 03-09-10 at 4:30 AM ET.
I will probably write a “preview” post a day or two before.
Stay tuned!
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