Hi there
On Wednesday, April 21st at 04:30 am New York Time we will have UK Claimant Count Change and Unemployment Rate coming out. The CCC is expected to read -10. Last month it read -32.3.
This is the first time I mention this report, mostly because some people complained I did not do it last month.
I still don't trust this report but last month we had a really nice price action.
The CCC came out at -32.3 versus 6 expected and GBP/USD moved up by by about 150 pips.
Forex news trading currency exchange charts
However, it was not only CCC but also unemployment rate dropped by 0.1 from 7.9 expected to 7.8 (which is good for GBP).
Two months ago we had quite similar deviation. It came out at 23.5 vs -10 but we had a very ugly price action.
Forex news trading currency exchange charts
The thing is two months ago unemployment rate came out as expected.
Three months ago we don't see a huge deviation on CCC but a pretty good deviation of 0.2 on unemployment rate and the price action was very hard to follow:
Forex news trading currency exchange charts
So I am not sure the GBP/USD is going to move because of CCC or because of unemployment rate. Moreover, I am not sure if since last month it became a hot report or it was just a pure luck the price went in the same direction.
I am going to observe both CCC and unemployment rate tomorrow but I will not commit any trade yet. I hope we will have another nice deviation so this would help us to see if this is worthy to trade in the future.
Thanks,
-Crazy Cat
On Wednesday, April 21st at 04:30 am New York Time we will have UK Claimant Count Change and Unemployment Rate coming out. The CCC is expected to read -10. Last month it read -32.3.
This is the first time I mention this report, mostly because some people complained I did not do it last month.
I still don't trust this report but last month we had a really nice price action.
The CCC came out at -32.3 versus 6 expected and GBP/USD moved up by by about 150 pips.
Forex news trading currency exchange charts
However, it was not only CCC but also unemployment rate dropped by 0.1 from 7.9 expected to 7.8 (which is good for GBP).
Two months ago we had quite similar deviation. It came out at 23.5 vs -10 but we had a very ugly price action.
Forex news trading currency exchange charts
The thing is two months ago unemployment rate came out as expected.
Three months ago we don't see a huge deviation on CCC but a pretty good deviation of 0.2 on unemployment rate and the price action was very hard to follow:
Forex news trading currency exchange charts
So I am not sure the GBP/USD is going to move because of CCC or because of unemployment rate. Moreover, I am not sure if since last month it became a hot report or it was just a pure luck the price went in the same direction.
I am going to observe both CCC and unemployment rate tomorrow but I will not commit any trade yet. I hope we will have another nice deviation so this would help us to see if this is worthy to trade in the future.
Thanks,
-Crazy Cat
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