On Tuesday, 12-08-09 at 8:15 AM ET, the CAD – Housing Starts report was released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.
I did a “preview” of this report on Monday, 12-07-09, click here for a review.
This months news report was not very exciting – but I am going to show the charts anyway.
Here is how this report was set up and what the results were:
CAD-6-15AM-12-08-09
Looking for 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
Actual Forecast Previous
. 158K 157K
. 159K 159K
Out at 178K or higher then “forecast” SELL GBP/CAD
Out at 138K or lower then “forecast” BUY GBP/CAD
Good – “actual” came out higher then “forecast” by 1K
“ – “actual” came out same as the revised “forecast”
‘ – “actual” came out higher then “previous” by 2K
there was not a good enough difference for a trade!
Here is how the 4 of the currency pairs:
This CAD/JPY currency pair had a minor move up 1st 5 minutes – right direction
Moved down the next 45 minutes about 50 PIPS – wrong direction
a one minute EUR/CAD chart
This EUR/CAD currency pair moved down 1st 5 minutes – right direction
Ranged down!
a one minute GBP/CAD chart
This GBP/CAD currency pair moved up for 17 minutes about 40 PIPS – wrong direction
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 17 minutes about 35 PIPS – wrong direction
Again, I had set up to do a trade on the currency pair GBP/CAD, no real “actual” and “forecast” difference – so no trade!
The next time this will be released will be on Friday, 01-08-10 at 9:15 AM ET.
I will probably write a “preview” a day or two before the release.
Stay tuned!
2 Trackbacks
[...] did write a “follow up” post soon after this report is finished, click here to see what [...]
[...] wrote a “follow up” post for last months housing starts report, click here for a [...]