The Fundamental FOREX Blog

On Wednesday, 07-14-10 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 not enter a trade this time, – not enough difference!!!

Here is the set up for this month:

GBP Claimant Count Change stats:

previous = -30.9K————–revised = -31.1K

forecast = -20.1K

Actual = -20.8K

GBP ILO Unemployment Rate stats:

previous = 7.9%

forecast = 7.9%

Actual = 7.8%

Here is how I was set up and what happened:

GBP-4-30AM-ET-07-14-10
Looking for a 20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
—-actual——–forecast———-previous
_____________-20.1K_______-30.9K
___-20.8K____ -20.1K_______ -31.1K
out at -00.2K or higher – SELL – GBP/USD
out at -40.2K or lower – BUY – GBP/USD
Good – “actual” came out lower then “forecast” by 0.7K
Bad – “actual” came out lower then “previous” by 10.1K

GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
_____7.8%________7.9%________7.9%
Good – “actual” came out lower then “forecast” by 0.1%
Good – “actual” came out lower then “previous” by 0.1%

GBP Average Earnings Index 3m/y
____________3.1%_______ 4.2%
____2.7%____  3.1%_______ 4.1%

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency pair

This EUR/GBP currency pair spiked up/down 1st minute about 16 PIPS/ 4 PIPS
Ranged for 6 minutes
Moved up for 3 minutes about 7 PIPS
Moved down for 23 minutes about 11 PIPS

(EUR/JPY)

a one minute EUR/JPY currency pair

This EUR/JPY currency pair moved down for 60 minutes about 37 PIPS

(EUR/USD)

a one minute EUR/USD currency pair

This EUR/USD currency pair moved down for 33 minutes about 24 PIPS

(GBP/CHF)

a one minute GBP/CHF currency pair

This GBP/CHF currency pair spiked up/down 1st minute about 35 PIPS/ 13 PIPS
Ranged for 7 minutes
Moved down for 6 minutes about 13 PIPS
Moved up for 11 minutes about 19 PIPS

(GBP/JPY)

a one minute GBP/JPY currency pair

This GBP/JPY currency pair spiked up/down 1st minute about 34 PIPS/ 12 PIPS
Moved down for 41 minutes about 40 PIPS

(GBP/USD)

a one minute GBP/USD currency pair

This GBP/USD currency pair spiked up/down 1st minute about 35 PIPS/ 10 PIPS
Moved down for 43 minutes about 33 PIPS

The next release of these two reports will be Wednesday, 08-11-10 at 4:30 AM ET.

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

Stay tuned!