The Fundamental FOREX Blog

Tomorrow, Monday, 02-08-10 at 8:15 AM ET, the CAD – Housing Starts report will be released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.

I wrote a “follow up” post for last months housing starts report, click here for a review.

Last month the “actual” report came out higher then “forecast”, which was good for the Canadian economy, and higher then the “previous” monthly report, but there was another CAD report scheduled for 8:30 AM ET and the FOREX market was “treading water” waiting for that report.

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

I did enter a trade last month, but it was after the 8:30 AM ET CAD report release, it was a winner.

Here is what is happening on Monday, 02-08-10:

CAD – Housing Starts stats

Previous = 175K

Forecast = 180K

This looks like the CHMC believes that the Canadian housing starts will show a increase this time.

Here is how I am set up for tomorrow:

CAD-6-15AM-02-08-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast———-previous
________________180K________175K
Out at 200K or higher SELL GBP/CAD
Out at 160K or lower BUY GBP/CAD
Watch, there might be a 6:30AM CAD report?

I did write a “follow up” post soon after this report was finished, click here to see what happened.

The next time this will be released will be on Tuesday, 03-09-10 at 8:15 AM ET.

I will probably post a “preview” a day more two prior.

Stay tuned!