Here is my second “follow up” of the GBP Prelim Gross Domestic Product QoQ report – did not trade this time.
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On Wednesday, 01-25-12 at 4:30 AM ET, the GBP Prelim Gross Domestic Product (QoQ) report was released.
This report is released by the U.K.s National Statistics on a Quarterly basis.
3 other reports were being released as well:
GBP Index of Services 3m/3m
released on a monthly basis by the National Statistics
GBP BBA Mortgage Approvals
Released monthly by the British Bankers’ Association
GBP MPC Meeting Minutes
Released monthly by the Bank of England
I did post a “preview” of this months report, click here to see what happened.
For an idea how this report worked out, here is what happened:
GBP Prelim Gross Domestic Product (QoQ) stats:
previous = 0.6%
forecast = -0.1%
Actual = -0.2%
Here is how I was set up and what happened:
GBP-4-30AM-ET-01-25-12
Looking for a 0.2% difference
GBP Gross Domestic Product (QoQ)
——actual———-forecast———-previous
_____-0.2%_____ -0.1% ______ 0.6%
out at 0.1% or higher – BUY GBP/CAD
out at -0.3% or lower – SELL GBP/CAD
With 0.1 diff, I would trade against it.-
Bad – lower than forecast by 0.1%
Bad – lower than previous by 0.8%
Here are the charts:
(EUR/GBP)
a one minute EUR/GBP currency chart
This EUR/GBP currency pair moved down for 56 minutes about 43 PIPS – wrong direction
(GBP/AUD)
a one minute GBP/AUD currency chart
This GBP/AUD currency pair moved up for 60 minutes about 73 PIPS – wrong direction
(GBP/CAD)
a one minute GBP/CAD currency chart
This GBP/CAD currency pair moved up for 60 minutes about 71 PIPS – wrong direction
(GBP/CHF)
a one minute GBP/CHF currency chart
This GBP/CHF currency pair moved up for 56 minutes about 69 PIPS – wrong direction
(GBP/JPY)
a one minute GBP/JPY currency chart
This GBP/JPY currency pair moved up for 18 minutes about 38 PIPS – wrong direction
Ranged
(GBP/NZD)
a one minute GBP/NZD currency chart
This GBP/NZD currency pair moved up for 33 minutes about 90 PIPS – wrong direction
Ranged
(GBP/USD)
a one minute GBP/USD currency chart
This GBP/USD currency pair moved up for 24 minutes about 40 PIPS – wrong direction
Moved down for 11 minutes about 15 PIPS - right direction
The next scheduled release of these reports is on Tuesday, 04-24-12 at 4:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
P.S. If you are interested in how I set up for a news trade – click on the “Training” link above for several videos.
P.P.S. If you are interested in the books I studied and recommend – click on the “FOREX Books” link above
