The Fundamental FOREX Blog

Tomorrow, Friday 11-06-09 at 7:00 AM ET Canada is releasing their monthly Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”.

I did a post “follow up” of last months reports, you can click here to see that post

These two reports are at times conflicting, so  –  be aware!

Here is the set up tomorrow:

CAD Employment Change stats:

Previous = 30.6K

Forecast = 10.3K

CAD Unemployment Rate stats:

Previous = 8.4%

Forecast = 8.4%

Even though the Unemployment Rate “forecast“ does not change from the “previous“, it could have a positive affect on the Canadian economy if the “actual“ comes out that way.

And, the “forecast” for the Employment Change shows a decrease in the economy.

Last month I was set up to trade the GBP/CAD currency pair and did – this time I was a winner – I believe I will set up for the GBP/CAD pair again, since it had the biggest move of the 4 currency pairs I watch, 115 PIPS in 31 minutes.

Click here to see what happened.

I will be looking for at least a 15K to 20K difference between the “actual” and the “forecast” of the Change in Employment – also, at least a 0.1% change in the Unemployment rate. Of course, both either in favor of or against the CAD.

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

The next schedule release of these reports is Friday, 12-04-09 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!