The Fundamental FOREX Blog

Tomorrow, Thursday, 08-19-10 at 4:30 AM ET, the GBP Retail Sales MoM report will be released.

Along with 3 other news reports:

GBP Prelim Mortgage Approvals
GBP Prelim M4 Money Supply m/m

Released monthly by the Bank of England

GBP Public Sector Net Borrowing

Released monthly by the National Statistics

I did not enter a trade last month – not enough difference!

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 = 0.7%

forecast = 0.4%

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-08-19-10
Looking for a 1.0%  difference
Actual > Forecast = Good for GBP
GBP Retail Sales m/m
——actual——-forecast——-previous
_____________0.4%_______0.7%
Out at -0.6% or lower -  SELL GBP/JPY
Out at 1.4% or more -  BUY GBP/JPY
On retrace

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, 09-17-10 at 4:30 AM ET!

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

Stay tuned!