On Wednesday, 01-20-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM was released.
There were 3 other reports released. These are:
CAD Bank Canada Consumer Price Index Core (MoM)
CAD Bank Canada Consumer Price Index Core (YoY)
USD MBA Mortgage Applications
The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM appear to have the greatest impact on the FOREX market.
The 2 Consumer reports are released by Statistics Canada
The last time these reports were released was on Thursday, 12-17-09 at 7:00 AM ET.
I did a “preview” post on Tuesday, 01-19-10 – click here for a review.
Here is how things went:
CAD Core Consumer Price Index (MoM) Stats
previous = 0.4%
forecast = -0.2%
forecast = -0.3%
CAD Consumer Price Index (MoM) Stats
previous = 0.5%
forecast = -0.1%
forecast = -0.3%
The CAD – Consumer Price Index came out worse then expected and went in the same direction as the Core – which greatly affected the market as you will see in the charts.
Both CPI’s came out negative for the CAD.
Here is how I was set up:
CAD-5-00AM-01-20-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———-forecast———-previous
____-0.3%_______-0.2%________0.4%
out at 0.1% or higher – SELL USD/CAD
out at -0.5% or lower- BUY USD/CAD
Bad – “actual” came out lower the “forecast” by 0.1%
Bad – “actual” came out lower the “previou” by 0.7%
The currency charts did not move as predicted.
Here are the charts:
a one minute CAD/JPY chart
This CAD/JPY currency pair moved down for 18 minutes about 49 PIPS – right direction
a one minute EUR/CAD chart
This EUR/CAD currency pair moved up for 27 minutes about 73 PIPS – right direction
a one minute GBP/CAD chart
This GBP/CAD currency pair moved up for 47 minutes about 80 PIPS – right direction
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 19 minutes about 62 PIPS – right direction
The next release of this report is scheduled for Thursday, 02-18-10 at 7:00 AM ET.
I have noticed lately that pre-scheduled economic news releases are sometimes re-scheduled later on.
I will probably post a preview of this report a day prior.
Stay tuned!
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