The Fundamental FOREX Blog

On Monday, 03-01-10 at 4:30AM ET, the GBP Purchasing Managers Index Manufacturing report was scheduled for release.

I did a “preview” post for this month on Sunday, 02-28-10 , click here for a review.

This months report is released along with 5 other reports:

GBP Mortgage Approvals
GBP Net Consumer Credit
GBP Net Lending Sec. on Dwellings
GBP M4 Money Supply (MoM) (F)
GBP M4 Money Supply (YoY) (F)

This PMI Manufacturing Index report is now released by Markit

The other reports are released by the Bank of England.

There was one thing to be aware of, subscribers to Reuters received the data 2 minutes prior to listed calendar time.

Prior to the present market conditions, a difference of 4 or 5 from the “forecast” could cause a good market move.

This months report is set up as follows:

GBP Purchasing Managers Index Manufacturing Index stats:

Previous = 56.7________revised = 56.6

Forecast = 56.5 ________revised = 56.3

Actual = 56.6

Here is how I was set up and what happened:

GBP-2-30AM-03-01-10
Looking for a 1.8 change
Actual > Forecast = Good for GBP
GBP Manufacturing PMI
——actual——forecast—–previous
_____________56.5_______56.7
_____56.6____ 56.3_______ 56.6
out at 58.3 or higher buy GBP/JPY
out at 54.7 or lower sell GBP/JPY
Changed from last month to GBP/JPY
Good – “actual” came out higher then “forecast” by 0.1
Good – “actual” came out higher then revised “forecast” by 0.3
Bad – “actual” came out lower then “previous” by 0.1
Neutral – “actual” came out the same as revised “previous”

There were not enough differences to really get an idea how the market would move!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP chart

This EUR/GBP currency pair moved up 60 minutes about 70 PIPS

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair ranged for 37 minutes

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair  minor move down for 30 minutes

(GBP/CHF)

a one minute GBP/CHF chart

This GBP/CHF currency pair moved down for 60 minutes about 130 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 60 minutes about 120 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 60 minutes about 160 PIPS

The next time this report is scheduled for release will be on Monday, 04-01-09 at 3:30 AM ET

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

Stay tuned!