The Fundamental FOREX Blog

Tomorrow, Wednesday 08-11-10 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 = -20.8K

forecast = -17.8K

GBP ILO Unemployment Rate stats:

previous = 7.8%

forecast = 7.8%

These two reports may not be complimentary since the Unemployment Rate may not increase, the Claimant Count Change is forecast to increase the number of  claims.

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

GBP-4-30AM-ET-08-11-10
Looking for a 20K difference
Actual < Forecast = Good for GBP
GBP Claimant Count Change
—-actual——–forecast———-previous
_____________-17.4K_______-20.8K
out at 02.6K or higher – SELL – GBP/USD
out at -37.4K or lower – BUY – GBP/USD
GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
_________________7.8%________7.8%
GBP Average Earnings Index 3m/y
1.1%               2.7%

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, 09-15-10 at 4:30 AM ET.

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

Stay tuned!