Tomorrow, Monday 08-24-09 at 8:30 AM ET, two Canadian reports will be released
CAD Retails Sales MoM
CAD Core Retail Sales MoM
Both reports are forecast to be less than the last months reports. Resulting perhaps, in a decline in the Canadian economy.
Canada’s “Statistics Canada” release their monthly report of “Core Retail Sales” M/M which excludes the sale of autos, and “Retails Sales” M/M which represents total consumer spending. These 2 reports come out about 50 days after the months end.
It appears that the “Retail Sales” report has a little more impact for traders than the “Core Retail Sales“.
Here is the set up tomorrow for the “Retail Sales” reports:
CAD – Retail Sales MoM
Previous = 1.2%
Forecast = 0.0%
CAD – Core Retail Sales MoM
Previous = 0.7%
Forecast = 0.2%
If both reports come out in the same direction and are greater than the “forecast”, either positive or negative by say 1.5% or more, the market should have a good move over time.
I will probably be setting up to trade the currency pair USD/CAD.
I have written two “results” post prior to this “preview” report, the last one on 07-24-09, click here for a review.
And the one before that on 06-22-09, click here for a review.
By checking out both “reviews” above you will get an idea of how these reports affect the currency markets.
I will be writing a follow up to these reports soon after their release.
The next release for these 2 reports will be Tuesday 09-22-09 at 8:30AM ET.
Stay tuned!
