On Friday, 02-19-10 at 8:30 AM ET, two Canadian reports will be released
CAD Retails Sales MoM
CAD Core Retail Sales MoM
Along with these reports the following news reports will be released:
CAD Leading Indicators (MoM)
USD Core CPI m/m
USD CPI m/m
I posted a “follow up” post of last months reports on Friday, 01-29-10, click here for a review.
The Retail Sales report is “forecast” to be greater than the last months report. Resulting perhaps, in a up-tick in the Canadian economy. The Core Retail Sale report “forecast” is good as well.
Canada’s “Statistics Canada” release these monthly reports.
USA’s Bureau of Labor Statistics.
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 CAD “Retail Sales” reports:
CAD – Retail Sales MoM stats
Previous = -0.3%
Forecast = 0.6%
CAD – Core Retail Sales MoM stats
Previous = 0.0%
Forecast = 0.4%
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-02-19-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast———-previous
________________0.6%________-0.3%
out at -0.9% or lower – SELL CAD/JPY
out at 2.1% or higher – BUY CAD/JPY
CAD Core Retail Sales m/m
_______________0.4%__________0.0%
This could be a very tricky trade with the USD CPI reports coming out at the same time – that is one reason for setting up for the CAD reports only.
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, 03-19-10 at 7:30AM ET.
Some times the reports scheduling can be changed.
Anyway, I will probably be writing a “preview” post for next months reports.
Stay tuned!
