The Fundamental FOREX Blog

On Tuesday 04-20-10 at 4:30 AM ET, the GBP Consumer Price Index YoY report was released.

Also 2 other reports:

GBP Core Consumer Price Index YoY
GBP Retail Price Index YoY

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

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 = 3.0%

forecast = 3.2%

Actual = 3.4%

Here is how I was set up:

GBP 4-30AM-ET-04-20-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual———-forecast———-previous
_____3.4%_______3.2%________3.0%
Out at 3.4% or higher – BUY GBP/USD
After the spike up??
Out at 3.0% or lower – SELL GBP/USD
After the spike down??
Good – “actual” came out higher then “forecast” by 0.2%
Good – “actual” came out higher then “previous” by 0.4%

I did execute a trade of the GBP/USD this time!  And it was a small win!!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair spiked down for 2 minutes about 25 PIPS – right direction
Moved up next 29 minutes about 40 PIPS – wrong direction

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair ranged for 12 minutes
Moved up next 19 minutes about 41 PIPS

(GBP/CAD)

a one minute GBP/CAD currency chart

This GBP/CAD currency pair spiked up for 2 minutes about 40 PIPS – right direction
Moved down next 2 minutes about 20 PIPS – wrong direction
Ranged up

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair spiked up for 2 minutes about 49 PIPS – right direction
Moved down next 32 minutes about 60 PIPS – wrong direction

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair spiked up for 2 minutes about 39 PIPS - right direction
Moved down next 10 minutes about 28 PIPS – wrong direction

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair spiked up for 2 minutes about 36 PIPS – right direction
Ranged!
Executed a winning trade here!!

The next scheduled release of these reports is on Tuesday, 05-18-10 at 4:30 AM ET.

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

Stay tuned!