The Fundamental FOREX Blog

On Tuesday, 06-01-10 at 4:30AM ET, the GBP Purchasing Managers Index Manufacturing report was scheduled for release.

I did a “preview” post for this month on Monday, 05-31-10 , click here for a review.

This PMI Manufacturing Index report is now released by Markit

There was one thing to be aware of, subscribers to Reuters receive the data 2 minutes prior to listed calendar time.

Prior to the present market conditions, a difference of 4 or 5 from the “forecast” could cause a good market move.

This months report was set up as follows:

GBP Purchasing Managers Index Manufacturing Index stats:

Previous = 58.0

Forecast = 57.8

Actual = 58.0

Here is how I was set up and what happened:

GBP-4-30AM-ET-06-01-10
Looking for a 1.8 change
Actual > Forecast = Good for GBP
GBP Manufacturing PMI
——actual——forecast—–previous
_____58.0_____57.8_______58.0
out at 59.6 or higher buy GBP/USD
out at 56.0 or lower sell GBP/USD
Good – “actual” came out higher then “forecast” by 0.2
Neutral – “actual” came out same as “previous”

Again – I did not enter a trade this time – not enough difference!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP chart

This EUR/GBP currency pair continued move down for 58 minutes about 39 PIPS

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down for 21 minutes about 72 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair  moved down for 47 minutes about 71 PIPS

(GBP/CHF)

a one minute GBP/CHF chart

This GBP/CHF currency pair moved down for 10 minutes about 30 PIPS
Moved up for 49 minutes about 54 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 22 minutes about 71 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 22 minutes about 50 PIPS

The next time this report is scheduled for release will be on Thursday, 07-01-09 at 4:30 AM ET

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

Stay tuned!