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Forex Signal (Wed, May 12, 04:30 am EST) UK Claimant Count Change

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 11, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    On Wednesday, May 12th 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 -20. Last month it read -32.9.

    I mention this report mostly because some people complain if I don't. I don't really trust this report, especially that very often it is released together with BOE Minutes so it's hard to judge this report alone.

    Two months 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).

    Three 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 three months ago unemployment rate came out as expected.

    Four 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

    But last month we saw quite crappy price action due to a really fast retracement - it came out -32.9 vs -10 expected and unemployment dropped by 0.1 from 4.9% to 4.8%:
    Forex news trading currency exchange charts


    So still I am not sure the GBP/USD is going to move because of CCC or because of unemployment rate. Because last month we had quite fast retracement, and because right now UK is more focused on the politics after the election, I am going to stay away and simply observe it.

    Thanks,
    -Crazy Cat
     
    #1 Crazy Cat, May 11, 2010
    Lasted edited by : Sep 8, 2016
  2. Mary7777777

    Mary7777777 Private

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    Hello, Crazy Cat. Tell me please, what trading platform you use? Of course, if it is not a secret.:)
     
  3. megabizland

    megabizland Private

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    yup i agree with u mary. i mean considering soooo many scamers out there. if u pleased... Crazy Cat. :)
     
  4. Philip Benveniste

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    Hi there Crazy Cat, as with the other fellow members, could you please recommend a broker, and especially one for news trading (no slippage, no re-quotes, etc.)

    Thanks a lot,
    Philip:D
     
  5. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    guys, I don't want to make any recommendations because the truth to be said, any broker may scam you. That's why I am *always* very nervous to keep any money with ANY broker, and that's why I like higher leverage accounts so I don't have to keep too much money on any account (it's best to keep your remaining money on your checking accounts). I don't want to be held liable for any recommendations...
     

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