The Fundamental FOREX Blog

On Monday, 11-30-09 at 8:30 AM ET, the Canadian Statistics Canada released the monthly CAD Gross Domestic Product MoM report, released about 60 days after the months end.

This is my first “follow up” post for this report, there are 3 other Canadian economic reports being released as well – at this point on time I do not have any idea how those additional  reports will affect the currency market.

The additional reports are:

CAD Industrial Product Price (MoM)
CAD Raw Materials Price Index (MoM)
CAD Quarterly Gross Domestic Product Annualized (3Q)

The last time these reports were released together was on Tuesday 06-30-09. Since that was so long ago and conditions have changed somewhat – I did not make a record.

I posted a “preview” of this economic news report on Sunday, 11-29-09, click here to view.

Here is what happened:

CAD Gross Domestic Product MoM – Stats

Previous = -0.1%

Forecast = 0.4%

Actual = 0.4%
Good – “actual” came out just as “forecast”, and came out 0.5% higher then the “previous”.

I did not execute a trade this time – but…

Here are the charts:

a one minute CAD/JPY chart

This currency pair CAD/JPY minor spike down 1st minute about 12 PIPS -
moved up next 11 minutes about 23 PIPS- right direction.

a one minute EUR/CAD chart

This currency pair EUR/CAD moved up about 27 PIPS in 6 minutes – wrong direction -
Moved down next 21 minutes about 20 PIPS – right direction.

a one minute GBP/CAD chart

This currency pair GBP/CAD moved up about 45 PIPS in 6 minutes – wrong direction -
Moved down next 9 minutes about 25 PIPS – right direction.

a one minute USD/CAD chart

This currency pair USD/CAD moved up about 46 PIPS in 60 minutes – wrong direction.

Looks like the currency pair GBP/CAD had the best move for a trade.

The next scheduled release of these two reports on Wednesday, 12-23-09 at 8:30 AM ET, at this point in time there may be additional reports released at the same time.

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

Stay tuned!