The Fundamental FOREX Blog

On Tuesday 05-18-10 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 = 3.4%

forecast = 3.5%

Actual = 3.7%

Here is how I was set up:

GBP 4-30AM-ET-05-18-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual——–forecast——–previous
_____3.7%_______3.5%______3.4%
Out at 3.7% or higher – BUY GBP/USD
After the spike up??
Out at 3.3% 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 0.3%

I did execute 4 trades of the GBP/USD this time!  All 4 were losers!!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair spiked down/up 1st minute about 18 PIPS/10 PIPS
Ranged for 8 minutes
Moved up next 32 minutes about 35 PIPS

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair ranged for 4 minutes
Moved down next 25 minutes about 51 PIPS

(GBP/CAD)

a one minute GBP/CAD currency chart

This GBP/CAD currency pair moved up for 8 minutes about 33 PIPS
Moved down next 37 minutes about 71 PIPS

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair spiked up/down 1st minute about 34 PIPS/15 PIPS
Ranged for 7 minutes
Moved down next 33 minutes about 70 PIPS

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair moved up 1st 3 minutes about 29 PIPS
Moved down next 57 minutes about 126 PIPS

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair ranged for 3 minutes
Moved down next 57 minutes about 98 PIPS
4 trades of the GBP/USD this time!  All 4 were losers!!

The next scheduled release of these reports is on Tuesday, 06-15-10 at 4:30 AM ET.

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

Stay tuned!