On Friday 10-09-09 at 7:00 AM ET Canada released their monthly Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -
On Thursday, 10-08-09 I wrote a “preview” post of these reports, click here for a review.
The Employment Change came out better than “forecast” by 37.3K, and better than revised “forecast by 25.7K. this was real good for the CAD economy.
The Unemployment Rate went lower than “forecast” by 0.4%, and was lower than the “previous” by 0.3%.
Both of these reports came out in favor of the CAD and was a real surprise for currency traders.
All 4 of the CAD involved currency pairs that I monitor moved in the “predicted” direction from the very first minute when the report was released.
I traded the GBP/CAD currency pair, and was a winner, could have won more!
I did not monitor any non CAD involved currency pairs.
Here is what happened:
CAD Employment Change stats:
Previous = 27.1K
Forecast = -6.7K revised = 4.9K
Actual = 30.6K
Cad Unemployment Rate stats:
Previous = 8.7%
Forecast = 8.8%
Actual = 8.4%
a one minute CAD/JPY chart
This CAD/JPY currency pair moved up about 48 PIPS in 30 minutes. AS predicted!
a one minute EUR/CAD chart
This EUR/CAD currency pair moved down about 97 PIPS in 28 minutes. AS predicted!
a one minute GBP/CAD chart
This GBP/CAD currency pair down about 115 PIPS in 31 minutes. AS predicted!.
a one minute USD/CAD chart
This USD/CAD currency pair down about 81 PIPS in 32 minutes. AS predicted!.
I entered a “sell” trade after my broker “spread” and “slippage” had returned to normal.
The next scheduled release of these reports will be on Friday 11-06-09 at 8:00 AM ET.
I will probably post a “preview” a day or two prior.
Remember, “Past performances are not an indication of future results!”
Stay tuned!
