The Fundamental FOREX Blog

On Wednesday, 03-10-10 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, 03-09-10 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.

executed 2 winning trades with the currency pair GBP/JPY!

These reports are released by the UK National Statistics Publication Hub.

Here is how it was set up for 03-10-10:

GBP – Industrial Production MoM stats:

Previous = 0.5%

Forecast = 0.2%

Actual = -0.4%

Manufacturing Production MoM stats:

Previous = 0.9%

Forecast = 0.3%

Actual = -0.9%

Here is how I was set up and what happened:

GBP-2-30AM-03-10-10
Looking for a 0.4% difference
Actual > Forecast = Good for GBP
GBP Industrial Production (MoM)
——actual———-forecast———previous
_____-0.4%_______0.2%________0.5%
Out at 0.6% or higher – BUY GBP/JPY
Out at -0.2%  or lower- SELL GBP/JPY
Bad – “actual” came out lower then “forecast” by 0.6%
Bad – “actual” came out lower then “previous” by 0.9%

GBP Manufacturing Production m/m
_____-0.9%____0.3%________ 0.9%
Bad – “actual” came out lower then “forecast” by 1.2%
Bad – “actual” came out lower then “previous” by 1.8%

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP chart

At the report release, this EUR/GBP currency pair moved up 1st 6 minutes about 42 PIPS - right direction
Minor move down next – then ranged

(EUR/JPY)

a one minute EURJPY chart

At the report release, this EUR/JPY currency pair ranged!!

(EUR/USD)

a one minute EUR/USD chart

At the report release, this EUR/USD currency pair ranged!!

(GBP/CHF)

a one minute GBP/CHF chart

At the report release, this GBP/CHF currency pair moved down for 6 minutes 74 PIPS – right direction
Ranged!!

(GBP/JPY)

a one minute GBP/JPY chart

At the report release, this GBP/JPY currency pair moved down for 39 minutes 65 PIPS – right direction
Executed 2 winning trades with this currency pair!!!

(GBP/USD)

a one minute GBP/USD chart

At the report release, this GBP/USD currency pair moved down for 6 minutes 65 PIPS – right direction
Ranged!

The next scheduled release of this report will be on Tuesday, 04-13-10 at 3:30 AM ET.

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

Stay tuned!