The Fundamental FOREX Blog

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

These two reports were 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 “preview” post of this months reports, click here for a review.

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————revised = -9.6K

forecast = -14.6K

Actual = 23.5K

GBP ILO Unemployment Rate stats:

previous = 7.8%

forecast = 7.8%

Actual = 7.8%

Here is how I was set up and what happened:

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
____23.5K______ -14.6K_______ -9.6K
out at 5.4K or higher – SELL – GBP/JPY
out at -34.6K or lower – BUY – GBP/JPY
Bad – “actual” came out higher then the “forecast” by 38.1
Bad – “actual” came out higher then the “previous” by 38.7
Bad – “actual” came out higher then the revised “previous” by 33.1

GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
____7.8%________7.8%________7.8%
Neutral – “actual” came just as “forecast” and the “previous”

GBP MPC Meeting Minutes 0-0-9 0-0-9   0-0-9

Here are the charts:

a one minute EUR/GBP currency pair

This EUR/GBP currency pair spiked down/up/down 1st minute
Moved down next 19 minutes about 19 PIPS – wrong direction

(EUR/JPY)

a one minute EUR/JPY currency pair

This EUR/JPY currency pair minor move up 1st minute
Moved down next 3 minutes about 13 PIPS
Moved up next 8 minutes about 33 PIPS

(EUR/USD)

a one minute EUR/USD currency pair

This EUR/USD currency pair moved down for 7 minutes about 13 PIPS
Moved up next 9 minutes about 15 PIPS
Moved down next 11 minutes about 17 PIPS

(GBP/CHF)

a one minute GBP/CHF currency pair

This GBP/CHF currency pair spiked up/down/up/down 1st minute
Moved up next 19 minutes about 36 PIPS – wrong direction

(GBP/JPY)

a one minute GBP/JPY currency pair

This GBP/JPY currency pair spiked down/up/down 1st minute
Moved up next 15 minutes about 50 PIPS  – wrong direction

(GBP/USD)

a one minute GBP/USD currency pair

This GBP/USD currency pair spiked up/down/up/down 1st minute
Ranged for next 6 minutes about 10 PIPS spread
Moved up next 13 minutes about 33 PIPS – wrong direction

The next release of these two reports will be Wednesday, 03-17-10 at 4:30 AM ET.

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

Stay tuned!