The Fundamental FOREX Blog

On Wednesday, 08-11-10 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.

And again, 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 = -20.8K————–revised = -15.9K

forecast = -17.4K ————–revised = -17.0K

Actual = -3.8K

GBP ILO Unemployment Rate stats:

previous = 7.8%

forecast = 7.8%

Actual = 7.8%

Here is how I was set up and what happened:

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
___-3.8K_____ -17.0K______ -15.9K
out at 02.6K or higher – SELL – GBP/USD
out at -37.4K or lower – BUY – GBP/USD
Bad – “actual” came out higher then “forecast” by 13.6K
Bad – “actual” came out higher then revised “forecast” by 13.2K
Bad – “actual” came out higher then “previous” by 17.0K
Bad – “actual” came out higher then revised “previous” by 12.1K

GBP Unemployment Rate
Actual < Forecast = Good for GBP
——actual———-forecast———-previous
_____7.8%_______7.8%________7.8%
Neutral – “actual” came out same as “forecast”
Neutral – “actual” came out same as “previous”

GBP Average Earnings Index 3m/y
1.3%             1.1%               2.7%

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency pair

This EUR/GBP currency pair moved up for 44 minutes about 17 PIPS – RD

(EUR/JPY)

a one minute EUR/JPY currency pair

This EUR/JPY currency pair ranged for 10 minutes
Moved up for 34 minutes about 20 PIPS

(EUR/USD)

a one minute EUR/USD currency pair

This EUR/USD currency pair ranged for 10 minutes
Moved up for 20 minutes about 20 PIPS
Moved down next 30 minutes about 28 PIPS

(GBP/CHF)

a one minute GBP/CHF currency pair

This GBP/CHF currency pair moved down for 60 minutes about 45 PIPS – RD

(GBP/JPY)

a one minute GBP/JPY currency pair

This GBP/JPY currency pair ranged for 13 minutes
Moved up for 6 minutes about 26 PIPS – WD
Moved down next 41 minutes about 35 PIPS – RD

(GBP/USD)

a one minute GBP/USD currency pair

This GBP/USD currency pair spiked down/up 1st minute about 21 PIPS/ 13 PIPS -
Ranged for 14 minutes -
Moved up for 4 minutes about 17 PIPS – WD -
Moved down next 41 minutes about 38 PIPS – RD

The next release of these two reports will be Wednesday, 09-15-10 at 4:30 AM ET.

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

Stay tuned!