The Fundamental FOREX Blog

On Tuesday 03-23-10 at 4:30 AM ET, the GBP Consumer Price Index YoY report was released.

Also 3 other reports:

GBP Core Consumer Price Index YoY
GBP Retail Price Index YoY
GBP BBA Mortgage Approvals

I posted a “preview” post of this report, click here to see what happened.

This Mortgage Approvals report is released by the U.K.s British Bankers’ Association
on a monthly basis.

The CPI and RPI are released by the U.K.s National Statistics on a monthly basis.

For an idea how this report worked out, here is what happened:

GBP Consumer Price Index YoY stats:

previous = 3.5%

forecast = 3.1%

Actual = 3.0%

Here is how I was set up:

GBP 3-30AM-03-23-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual———-forecast———-previous
_____3.0%_______3.1%________3.5%
Out at 3.3% or higher – BUY GBP/USD
After the spike up??
Out at 2.9% or lower – SELL GBP/USD
After the spike down??
Bad – “actual” came out lower then “forecast” by 0.1%
Bad – “actual” came out lower then “previous” by 0.5%

Did not execute a trade this time!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair spiked up/down 1st minute about 22 PIPS/ 9 PIPS
Ranged for about 21 minutes

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair ranged for about 33 minutes

(GBP/CAD)

a one minute GBP/CAD currency chart

This GBP/CAD currency pair spiked down/up 1st minute about 39 PIPS/ 19 PIPS
Ranged!

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair spiked down/up 1st minute about 40 PIPS/ 17 PIPS
Moved up next 8 minutes about 23 PIPS – wrong direction
Moved down next 35 minutes about 49 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair spiked down/up 1st minute about 36 PIPS/ 15 PIPS
Moved up next 5 minutes about 25 PIPS – wrong direction
Moved down next 35 minutes about 44 PIPS – right direction

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair spiked down/up 1st minute about 41 PIPS/ 19 PIPS
Moved down next 3 minutes – moved up next 2 minutes about 22 PIPS – wrong direction
Moved down next 35 minutes about 45 PIPS - right direction

The next scheduled release of these reports is on Friday, 04-13-10 at 4:30 AM ET.

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

Stay tuned!