The Fundamental FOREX Blog

On Wednesday 08-19-09 at 7:00 AM ET, 4 Canadian economic reports were be released. They were:

CAD Core Consumer Price Index MoM
CAD Consumer Price Index YoY
CAD Bank Consumer Price Index Core MoM
CAD Bank Consumer Price Index Core YoY

The Core Consumer Price Index MoM appears to have the greatest impact on the FOREX market.

All 4 reports are released by Statistics Canada

I did write a preview of this report on 08-18-09, click here to review.

Very few of the CAD involved currency pairs were affected by the report, and did not move very much at all.

EUR/ CAD and GBP/CAD only hesitated for a few minutes prior to the report release, then kept moving in the same direction.

The CAD/JPY and USD/CAD currency pairs did move in favor of the CAD after the 1st minute into the report, but no good opportunities for a “scalp”. They moved slow!

Now, the currency pairs EUR/USD and GBP/USD did move good enough for some nice “scalp” opportunities.

Let‘s see what happened:

CAD Consumer Price Index (MoM) Stats

previous = 0.0%

forecast = 0.1%

actual = 0.0%

The CAD Consumer Price Index came out the same as the “previous” had been and therefore was not enough difference from the “forecast” to be a real surprise to traders.

Here are two currency pairs that did move:

a one minute EUR/USD chart

a one minute GBP/USD chart

The next release of this report is scheduled for Monday 09-21-09 at 7:00 AM ET.

I will probably post a preview of this report a day prior.

Stay tuned!