The Fundamental FOREX Blog

Tomorrow, Thursday, 07-22-10 at 4:30 AM ET, the GBP Retail Sales MoM report will be released.

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

This Retail Sales report is released by the U.K.s National Statistics on a monthly basis.

Here is what is going on tomorrow:

GBP Retail Sales MoM stats:

previous = 0.6%

forecast = 0.5%

The “forecast” for this report shows a possibility of a progressive down turn of the GBP economy.

Here is how I am set up for this report:

GBP-4-30AM-ET-07-22-10
Looking for a 1.0%  difference
Actual > Forecast = Good for GBP
GBP Retail Sales m/m
——actual——-forecast——-previous
_____________0.5%_______0.6%
Out at -0.5% or lower -  SELL GBP/CHF
Out at 1.5% or more -  BUY GBP/CHF
On retrace??

The last 3 reports have failed to have enough difference of 1.0% for me to enter a trade, however, last report release showed a 0.5% difference and the market moved nicely in the “right direction” – the GBP/USD had the best movement.

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

The next scheduled release of this report is on Friday, 08-20-10 at 4:30 AM ET!

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

Stay tuned!