Tomorrow, Tuesday, 05-11-10 at 4:30 AM ET the GBP Industrial Production MoM, and Manufacturing Production MoM reports will be released.
These two reports stand alone at this time.
On Thursday, 04-15-10, I wrote a “follow up” post of last months results, 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, both negative or positive.
Again – both reports came out good for the GBP – I did enter 2 trades of the GBP/JPY currency pair, both were winners – see the “follow up” above.
These reports are released by the UK National Statistics Publication Hub.
Lets set this up for 05-11-10.
GBP – Industrial Production MoM stats:
Previous = 1.0%
Forecast = 0.3%
Manufacturing Production MoM stats:
Previous = 1.3%
Forecast = 0.3%
It appears that both reports are “forecast” bad for the UK economy.
Here is how I am set up for tomorrow:
GBP-4-30AM-ET-05-11-10
Looking for a 0.4% difference
Actual > Forecast = Good for GBP
GBP Industrial Production (MoM)
——actual———-forecast———previous
________________0.3%________1.0%
Out at 0.6% or higher – BUY GBP/JPY
Out at -0.2% or lower- SELL GBP/JPY
GBP Manufacturing Production m/m
________________0.3%________ 1.3%
Watch for conflict Trade against it??
After going back over my records for last month and the previous month, I was set up to trade the GBP/JPY currency pair – both worked out well – so I will set up for the GBP/JPY again.
I did post a “follow up” report soon after, click here to see what happened.
The next scheduled release of this report will be on Tuesday, 06-08-10 at 4:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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