Tomorrow, Thursday 09-17-09 at 7:00 AM ET, 4 Canadian economic reports are scheduled to be released. These are:
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
The last time these reports were released was on Friday 08-19-09 at 7:00 AM ET.
I did “preview” and a “follow up” posts – click here for the “preview” – click here for the “follow up”.
Here is how things look for tomorrow:
CAD Core Consumer Price Index (MoM) Stats
previous = 0.0%
forecast = 0.1%
CAD Consumer Price Index (Y0Y) Stats
previous = -0.3%
forecast = 0.2%
The “forecast” for both of the Consumer Price Index reports shows that the economists believe the Canadian economy will be improving, thus good for the CAD.
Since the “forecast” shows a potential improvement in the Canadian economy, not much though. However, if the “actual” comes out say 0.2% to 0.4% above or below the “forecast” watch the GBP/USD currency pair, it moved good last month, I watched the USD/CAD last time and it did not move much.
It really helps if both reports move in concert. Watch out for conflict.
I will post a “follow up” of this report soon after.
Stay tuned!
