The Fundamental FOREX Blog

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

These two reports were released with one other economic news report -

GBP Average Earnings index

I did a “preview” post of this months reports, click here for a review.

Both of those reports are released by the U.K.s National Statistics on a monthly basis.

I did enter a trade this time, currency pair of the GBP/USD  – a winner!!!

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = -27.1K————–revised = -32.0K

forecast = -25.3K ————–revised = -23.2K

Actual = -30.9K

GBP ILO Unemployment Rate stats:

previous = 8.0%

forecast = 8.0%

Actual = 7.9%

Here is how I was set up and what happened:

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
___-30.9K___ -23.2K______ -32.0K
out at -5.3K or higher – SELL – GBP/USD
out at -45.3K or lower – BUY – GBP/USD
Bad Good – “actual” came out lower then “forecast” by 5.6K
Bad Good – “actual” came out lower then revised “forecast” by 7.7K
Bad Good - “actual” came out lower then “previous” by 3.8K
Good Bad- “actual” came out higher then revised “previous” by 1.1K

GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
_____7.9%_______8.0%________8.0%
Good – “actual” came out lower then “forecast” by 0.1%
Good – “actual” came out lower then “previous” by 0.1%

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency pair

This EUR/GBP currency pair moved down 1st 4 minutes about 18 PIPS
Moved up for 23 minutes about 20 PIPS

(EUR/JPY)

a one minute EUR/JPY currency pair

This EUR/JPY currency pair moved up for 30 minutes about 35 PIPS

(EUR/USD)

a one minute EUR/USD currency pair

This EUR/USD currency pair moved up for 30 minutes about 25 PIPS

(GBP/CHF)

a one minute GBP/CHF currency pair

This GBP/CHF currency pair moved up for 13 minutes about 50 PIPS
Moved down for 23 minutes about 40 PIPS

(GBP/JPY)

a one minute GBP/JPY currency pair

This GBP/JPY currency pair moved moved up for 30 minutes about 48 PIPS

(GBP/USD)

a one minute GBP/USD currency pair

This GBP/USD currency pair moved up for 5 minutes about 37 PIPS
Moved down for 22 minutes about 25 PIPS

The next release of these two reports will be Wednesday, 07-14-10 at 4:30 AM ET.

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

Stay tuned!