The Fundamental FOREX Blog

On Friday, 01-22-10 at 8:30 AM ET, two Canadian reports will be released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

I posted a “follow up” post on Monday, 12-28-09, click here for a review.

The Retail Sales report is “forecast” to be less than the last months report. Resulting perhaps, in a decline in the Canadian economy. The Core Retail Sale report “forecast” is neutral.

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 = -0.3%

CAD – Core Retail Sales MoM stats
Previous = 0.2%

Forecast = 0.2%

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.

Here is how I am set up for tomorrow:

CAD-6-30AM-01-22-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast———-previous
________________-0.3%________0.8%
out at -0.6% or lower – BUY EUR/CAD
out at 2.4% or higher – SELL EUR/CAD
CAD Core Retail Sales m/m
0.2%               0.2%
Watch for conflict!!

I did post a “follow up” soon after, click here to see what happened.

The next release for these 2 reports is scheduled for Friday, 02-19-10 at 8:30AM ET.
Some times the report scheduling can be changed.

Anyway, I will probably be writing a “preview” post for next months reports.

Stay tuned!