No More Free Lunch Around UK Economic News Releases

By July 8, 2017Uncategorized
I just read (July 8)¬†that the Statistics office (ONS) will no longer prerelease the UK economic data to government departments from July 1st. This should eliminate the “correct” GBP moves in the minutes leading up to major UK economic news releases.
We may have seen a taste of that on Friday July 7th; very little GBP movement before the UK industrial production and then a sizable drop in GBP after the bearish news was released.
It was good while it lasted; once we got within thirty minutes of a key UK scheduled news events the price action was all one way in GBP and there was money to be made.