On Friday, 02-05-10 at 7:00 AM ET Canada released their monthly CAD Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”.
I did a post “preview” on Thursday, 02-04-10, you can click here to see that post.
Here is how the set up turned out:
CAD Employment Change stats:
Previous = -2.6K
Forecast = 15.2K
Actual = 43.0K
CAD Unemployment Rate stats:
Previous = 8.5%
Forecast = 8.5%
Actual = 8.3%
Here is how I was set up and what happened:
CAD-5-00AM-02-05-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual———-forecast———-previous
____43.0K______15.2K________-2.6K
out at -4.8K or less – BUY GBP/CAD
out at 35.2K or higher – SELL GBP/CAD
Good – “actual” came out higher then “forecast” by 27.8K
Good – “actual” came out higher then “previous” by 45.6K
Unemployment rate
Actual < Forecast = Good for CAD
——actual———-forecast———-previous
____8.3%_______ 8.5% ________8.5%
Good – “actual” came out lower then “forecast” by 0.2%
Good – “actual” came out lower then “previous” by 0.2%
Both reports were in favor of the CAD!!!
Here are the charts!!
a one minute CAD/JPY chart
This CAD/JPY currency pair move up 1st 4 minutes about 36 PIPS – right direction
Move down next 50 minutes about 28 PIPS – wrong direction
a one minute EUR/CAD chart
This EUR/CAD currency pair move down 1st 4 minutes about 55 PIPS – right direction
Move up next 5 minutes about 17 PIPS – wrong direction
Move down next 42 minutes about 25 PIPS – right direction
a one minute GBP/CAD chart
This GBP/CAD currency pair move down 1st 4 minutes about 70 PIPS – right direction
Move up next 5 minutes about 20 PIPS – wrong direction
Move down next 42 minutes about 45 PIPS – right direction
Entered 1 trade for a win – this is the 2nd month in a row that I have won a trade with this currency pair and news report.
a one minute USD/CAD chart
This USD/CAD currency pair spike down/up 1st minute about 44 PIPS/ 17 PIPS
Move down next 3 minutes about 15 PIPS - right direction
Move up next 5 minutes about 10 PIPS – wrong direction
Move down next 4 minutes about 12 PIPS – right direction
Move up next 14 minutes about 18 PIPS – wrong direction
The next scheduled release of these reports will be on Friday 03-12-10 at 7:00 AM ET.
I will probably post a “preview” a day or two prior.
Remember, “Past performances are not an indication of future results!”
Stay tuned!
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