On Monday 11-23-09 at 8:30 AM ET, two Canadian reports will be released
CAD Retails Sales MoM
CAD Core Retail Sales MoM
Along with one USD report:
USD Chicago Fed National Activity Index
This USD report should not carry any weight trading wise.
The last time that the Canadian reports were release essentially alone was on Tuesday, 09-22-09 at 8:30 AM ET.
I posted a “follow up” post on Friday, 09-25-09, click here for a review.
Both reports are forecast to be less than the last months reports. Resulting perhaps, in a decline in the Canadian economy.
Canada’s “Statistics Canada” release these monthly reports.
It appears that the “Retail Sales” report has a little more impact for traders than the “Core Retail Sales“.
Here is the set up tomorrow for the “Retail Sales” reports:
CAD – Retail Sales MoM stats
Previous = 0.8%
Forecast = 0.6%
CAD – Core Retail Sales MoM stats
Previous = 0.5%
Forecast = 0.4%
If both reports come out in the same direction and are greater than the “forecast”, either positive or negative by say 1.5% or more, the market should have a good move over time.
The last two months that these reports came out as stand alone reports was 08-24-09 and 09-22-09 at 8:30 AM ET – both reports were in the same direction and the charts moved just as predicted – GBP/CAD provided the best opportunity for “scalping”.
On 10-22-09, these two Canadian reports were released along with the USD Initial Jobless Claims and Continuing Claims – the charts were all over the place, nothing moved as I thought it would, naturally, I lost on a trade.
If you are curious, click here to view the ”follow up” report for 10-22-09.
I did post a “follow up” post to these reports on Saturday, 11-28-09, click here to see what happened.
The next release for these 2 reports is scheduled for Monday, 12-21-09 at 8:30AM ET.
Some times the reports scheduling can be changed.
Anyway, I will probably be writing a “preview” post for next months reports.
Stay tuned!
