The Fundamental FOREX Blog

Tomorrow, Wednesday 06-16-10 at 4:30 AM ET, the GBP Claimant Count Change and ILO Unemployment Rate will be released.

These two reports will be released with one other economic news report -

GBP Average Earnings index (3MoY)

I did a “follow up” post of last months report, click here to see what happened.

All 3 of these reports are released by the U.K.s National Statistics on a monthly basis.

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = -27.1K

forecast = -25.3K

GBP ILO Unemployment Rate stats:

previous = 8.0%

forecast = 8.0%

These two reports “forecast” may be complimentary since the Unemployment Rate may not increase.

Here is how I am set up for a possible trade.

GBP-4-30AM-ET-06-16-10
Looking for a 20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
—-actual——–forecast———-previous
____________-25.3K_______-27.1K
out at -5.3K or higher – SELL – GBP/USD
out at -45.3K or lower – BUY – GBP/USD
GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
________________8.0%________8.0%
GBP Average Earnings Index 3m/y
4.4%                4.0%

I did post a “follow up” of this report soon after, click here to see what happened.

The next scheduled release of these reports is on Wednesday, 07-14-10 at 4:30 AM ET.

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

Stay tuned!