The Fundamental FOREX Blog

Tomorrow 11-05-09 at 10:00 AM ET, the CAD Ivey Purchasing Managers Index report will be released.

This report is released by Richard Ivey School of Business on a monthly basis.

The last time these reports were released was on Tuesday, 10-06-09 at 10:00 AM ET and was set up as follows.

CAD Ivey Purchasing Managers Index report Stats

previous = 55.7

forecast = 56.9

actual = 61.7
Good -  higher then the “forecast” by 4.8, higher then the “previous” by 6.0

I was looking for at least a difference of 4.0 difference, which happened.

Here is what happened:

a one minute CAD/JPY chart

This CAD/JPY currency pair moved up about 40 PIPS the 1st 6 minutes – right direction!

a one minute EUR/CAD chart

This EUR/CAD currency pair moved down about 65 PIPS in 11 minutes – right direction!

a one minute GBP/CAD chart

This GBP/CAD currency pair moved down about 70 PIPS in 31 minutes – right direction!

a one minute USD/CAD chart

This USD/CAD currency pair moved down about 47 PIPS in 11 minutes – right direction!

I did a trade with this USD/CAD currency pair and it was a win!

Tomorrows reports are set up as follows:

CAD Ivey Purchasing Managers Index report Stats

previous = 61.7

forecast = 60.9

I believe I will set up to trade the currency pair GBP/CAD this time – so, if the “actual” comes out with a difference of at least 4.0 from the “forecast” – a trade may be in the works.

I did post a “follow up” of this report soon after, click here to see what happened.

The next scheduled release of this Canadian report will be on Friday, 12-04-09, and a US report will be released as well.

I will probably post a “preview” a day or two prior.

Stay tuned!