The Fundamental FOREX Blog

On Thursday, 11-05-09 at 10:00 AM ET, the CAD Ivey Purchasing Managers Index report was released.

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

I posted my first “preview” of this report on Wednesday, 11-04-09, click here for a review.

Here is what happened this month:

CAD Ivey Purchasing Managers Index report Stats

previous = 61.7

forecast = 60.9

actual = 61.2
Good -  higher then the “forecast” by 0.3,

but, Bad – lower then the “previous” by 0.5

I was looking for at least a difference of 4.0 difference, which did not happen.

Unfortunately, I decided to execute a trade anyway, and had to get out at a loss.

Here is what happened:

a one minute CAD/JPY chart

This CAD/JPY currency pair moved up about 7 PIPS the 1st minute – right direction! Then reversed down the next 13 minutes about 35 PIPS – wrong direction – only then did it reverse up the next 46 minutes about 39 PIPS – right direction.

a one minute EUR/CAD chart

This EUR/CAD currency pair spiked down about 16 PIPS the 1st minute – right direction! Then reversed down the next 13 minutes about 35 PIPS – wrong direction – then ranged.

a one minute GBP/CAD chart

This GBP/CAD currency pair had a minor spike up/down 1st minute – ???? Then reversed up the next 17 minutes about 45 PIPS – wrong direction.

Here was my misguided trade execution and loss!!

a one minute USD/CAD chart

This USD/CAD currency pair moved down about 13 PIPS 1st minute – right direction! – then reversed up the next 13 minutes about 32 PIPS – wrong direction.

Was the lower then “previous” “actual” report the villain?? I do not know – I did go against my own plans – maybe that will be a lesson to me??

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 did write a “follow up” post soon after this report was finished, click here to see what happened.

Stay tuned!