Tok Gading
Freshie
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- 7
- Joined
- Jun 24, 2007
- Messages
- 7
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GBP Manufacturing Production m/m
Monday, August 6th, 2007 (4:30 a.m. New York Time) UK
We have only one thing coming out that I feel is worth watching and possibly trading, and that's going to be UK industrial production. It is expected to come out at 0.1% versus 0.6%. Because last reading was really high, 0.6%, economists are expecting that this month the reading will be a little bit lower because it's a month-over-month reading, and high after another high reading is very rare. In my opinion if the reading comes out at 0.4% or higher, GBP/USD may possibly go up by 40 pips or more in the first hour of the report. At the same time, if it comes out at -0.2 or lower, GBP/USD may possibly go down by 40 pips or more in the first hour of the report. I have to warn you that lately the manufacturing indicators out of UK haven't been really absorbed by the market too well. It seems that the market shrugged them off a lot more than it used to be. Last months it was a very tough to trade as we saw an initial spike about 18 pips, and the price went opposite direction. I still think that the industrial production could be a good trade, especially if we're going to go along with the market sentiment. Use a lot of discretion if you're trading it on your own. Don't try to go against the general market sentiment or trend because we may only a quick spike, and it may be a very difficult to make any money on this.
SUMMARY:
* Report: UK Industrial Production
* BUY on GBP/USD if the number will be 0.4% or higher
* SELL on GBP/USD if the number will be -0.2% or lower
* If the trigger is hit, we may see a move of 40 pips or more in the first hour of the report.
* Be careful with this indicator, read details.
Monday, August 6th, 2007 (4:30 a.m. New York Time) UK
We have only one thing coming out that I feel is worth watching and possibly trading, and that's going to be UK industrial production. It is expected to come out at 0.1% versus 0.6%. Because last reading was really high, 0.6%, economists are expecting that this month the reading will be a little bit lower because it's a month-over-month reading, and high after another high reading is very rare. In my opinion if the reading comes out at 0.4% or higher, GBP/USD may possibly go up by 40 pips or more in the first hour of the report. At the same time, if it comes out at -0.2 or lower, GBP/USD may possibly go down by 40 pips or more in the first hour of the report. I have to warn you that lately the manufacturing indicators out of UK haven't been really absorbed by the market too well. It seems that the market shrugged them off a lot more than it used to be. Last months it was a very tough to trade as we saw an initial spike about 18 pips, and the price went opposite direction. I still think that the industrial production could be a good trade, especially if we're going to go along with the market sentiment. Use a lot of discretion if you're trading it on your own. Don't try to go against the general market sentiment or trend because we may only a quick spike, and it may be a very difficult to make any money on this.
SUMMARY:
* Report: UK Industrial Production
* BUY on GBP/USD if the number will be 0.4% or higher
* SELL on GBP/USD if the number will be -0.2% or lower
* If the trigger is hit, we may see a move of 40 pips or more in the first hour of the report.
* Be careful with this indicator, read details.