The Fundamental FOREX Blog

On Tuesday 08-17-10 at 4:30 AM ET, the GBP Consumer Price Index YoY report was released.

Also 2 other reports:

GBP Core Consumer Price Index YoY
GBP Retail Price Index YoY

I posted a “preview” post of this report, click here to see what happened.

The CPI and RPI are released by the U.K.s National Statistics on a monthly basis.

I Did enter one  trade of the currency pair GBP/CAD!! – it was a small winner! – but I was taking a gamble.

For an idea how this report worked out, here is what happened:

GBP Consumer Price Index YoY stats:

previous = 3.2%

forecast = 3.1%

Actual = 3.1%

Here is how I was set up:

GBP 4-30AM-ET-08-17-10
Looking for a 0.2% difference
Actual > Forecast = Good for GBP
GBP Consumer Price Index YoY
——actual——–forecast——–previous
_____3.1%_______3.1%_______3.2%
Out at 3.3% or higher – BUY GBP/CAD
Out at 2.9% or lower – SELL GBP/CAD
Neutral – “actual” came out same as “forecast”
Bad – “actual” came out lower then “previous” by 0.1%

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair spiked up/down 1st 2 minutes about 12 PIPS/ 6 PIPS
Moved down for 29 minutes about 25 PIPS

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair ranged for 30 minutes

(GBP/CAD)

a one minute GBP/CAD currency chart

This GBP/CAD currency pair moved down for 3 minutes about 25 PIPS
Moved up next 4 minutes about 25 PIPS
Ranged

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair spiked down/up/down 1st 2 minutes about 23 PIPS/ 29 PIPS/ 4 PIPS
Moved up next 57 minutes about 110 PIPS

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair spiked down/up/down 1st 4 minutes about 22 PIPS/ 16 PIPS/ 18 PIPS
Moved up next 3 minutes about 25 PIPS
Ranged

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair spiked down/up/down 1st 3 minutes about 22 PIPS/ 16 PIPS/ 10 PIPS
Moved up next 4 minutes about 28 PIPS
Ranged

The next scheduled release of these reports is on Tuesday, 09-14-10 at 4:30 AM ET.

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

Stay tuned!