The Fundamental FOREX Blog

On Monday, 01-11-10 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 wrote a “preview” post , click here for a review.

Keep this in mind, 15 minutes after this report was release, another CAD report was released – the CAD Building Permits m/m.

Has you can see in the charts – the traders were marking time until this report was released

Check out the “preview” link above for an idea what was going on.

Here is how this report was set up and what the results were:

CAD-6-15AM-01-11-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast———-previous
________________161K________159K
175K 161K 165K
Out at 181K or higher SELL GBP/CAD
Out at 141K or lower BUY GBP/CAD
Good – “actual” came out higher then “forecast” by 14K
Good – “actual” came out higher then “previous” by 14K

Since I noticed that another report was coming up in 15 minutes that would affect the CAD – I did not enter a trade until after 8:30AM report was released.

Here are the charts:

a one minute CAD/JPY chart

This CAD/JPY currency pair ranged for 15 minutes (waiting for the next CAD report at 8:30 AM ET?)
Moved down next 46 minutes about 32 PIPS

a one minute EUR/CAD chart

This EUR/CAD currency pair ranged for 15 minutes (waiting for the next CAD report at 8:30 AM ET?)
Moved up next 42 minutes about 50 PIPS

a one minute GBP/CAD chart

This GBP/CAD currency pair ranged for 15 minutes (waiting for the next CAD report at 8:30 AM ET?)
Moved up next 44 minutes about 55 PIPS

a one minute USD/CAD chart

This USD/CAD currency pair ranged for 15 minutes (waiting for the next CAD report at 8:30 AM ET?)
Moved up next 44 minutes about 43 PIPS

The next time this will be released will be on Tuesday, 02-08-10 at 9:15 AM ET.

I will probably write a “preview” a day or two before the release.

Stay tuned!