The Fundamental FOREX Blog

On Monday, 02-08-10 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.

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

I did not enter a trade this month.

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

CAD – Housing Starts stats

Previous = 175K

Forecast = 180K

Actual = 186K

This looks like the CHMC believed that the Canadian housing starts would show an increase this time – which there was.

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

CAD-6-15AM-02-08-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast———-previous
____186K________180K________175K
Out at 200K or higher SELL GBP/CAD
Out at 160K or lower BUY GBP/CAD
Good – “actual” came out higher then “forecast” by 6K
Good – “actual” came out higher then “previous” by 11K

Here are the charts:

a one minute CAD/JPY chart

This CAD/JPY currency pair moved up 1st minute about 12 PIPS – right direction
Ranged for 10 minutes
Moved down next 8 minutes about 20 PIPS -wrong direction
Moved up next 39 minutes about 38 PIPS – right direction

a one minute EUR/CAD chart

This EUR/CAD currency pair moved down 1st minute about 22 PIPS – right direction
Ranged for 12 minutes
Moved up next 7 minutes about 14 PIPS -wrong direction
Moved down next 40 minutes about 28 PIPS – right direction

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked down 1st minute about 30 PIPS – right direction
Moved up next 16 minutes about 25 PIPS -wrong direction
Moved down next 39 minutes about 38 PIPS – right direction

a one minute USD/CAD chart

This USD/CAD currency pair spiked down 1st minute about 15 PIPS – right direction
Moved up next 16 minutes about 22 PIPS -wrong direction
Moved down next 47 minutes about 31 PIPS – right direction

The next time this will be released will be on Tuesday, 03-09-10 at 9:15 AM ET.

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

Stay tuned!