The Fundamental FOREX Blog

Tomorrow, Wednesday 02-17-10 at 4:30 AM ET, the GBP Claimant Count Change and ILO Unemployment Rate will be released.

These two reports will be released with four other economic news reports -

GBP Claimant Count Rate
GBP Average Earnings inc bonus (3MoY)
GBP Average Earnings ex bonus (3MoY)
GBP Bank of England Policy Meeting Minutes

I did a “follow up” post of last months report, click here to see what happened.

Both of these reports are released by the U.K.s National Statistics on a monthly basis.

GBP Policy Meeting Minutes is released by the Bank of England.

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = -15.2K

forecast = -14.6K

GBP ILO Unemployment Rate stats:

previous = 7.8%

forecast = 7.8%

These two reports “forecast” may be complimentary since the Unemployment Rate is not “forecast” to increase.

Here is how I am set up for a possible trade:

GBP-2-30AM-02-17-10
Looking for a 20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
——actual———-forecast———-previous
_______________-14.6K________-15.2K
out at 5.4K or higher – SELL – GBP/JPY
out at -34.6K or lower – BUY – GBP/JPY
GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
________________7.8%________7.8%
GBP MPC Meeting Minutes 0-0-9      0-0-9

Watch out for the GBP MPC Meeting Minutes – this may “cloud” the markets.

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

The next scheduled release of these reports is on Wednesday, 03-17-10 at 4:30 AM ET.

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

Stay tuned!