The Fundamental FOREX Blog

On Thursday, 02-18-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM was released.

There were 2 other reports released. These are:

CAD Bank Canada Consumer Price Index Core (MoM)
CAD Bank Canada Consumer Price Index Core (YoY)

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

I did a “preview” post on Wednesday, 02-17-10,  click here for a review.

Here is how things went:

CAD Core Consumer Price Index (MoM) Stats

previous = -0.3%

forecast = 0.1%

forecast = 0.1%

CAD Consumer Price Index (MoM) Stats

previous = -0.3%

forecast = 0.3%

forecast = 0.3%

Here is how I was set up and what happened:

CAD-5-00AM-02-18-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———-forecast———-previous
_____0.1%_______0.1%________-0.3%
out at 0.4% or higher – SELL USD/CAD
out at -0.4% or lower- BUY USD/CAD
Neutral -”actual” came out as “forecast”
Good -”actual” came out higher then  “previous” by 0.4%

CAD CPI m/m  0.3%       0.3%         -0.3%
Neutral -”actual” came out as “forecast”
Good -”actual” came out higher then  “previous” by 0.6%

Some of the currency charts did move as predicted, but not much since the reports did not have much of a surprise to market.

Here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair minor ranging for 20 minutes

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved down for 21 minutes about 21 PIPS – right direction
Moved up for 33 minutes about 28 PIPS – wrong direction

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved up for 7 minutes about 7 PIPS
Moved down for 6 minutes about 12 PIPS
Moved up next 29 minutes about 23 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved down for 37 minutes about 33 PIPS - right direction

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved up for 6 minutes about 8 PIPS
Moved down for 5 minutes about 16 PIPS
Moved up next 30 minutes about 17 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved down for 41 minutes about 24 PIPS – right direction

The next release of this report is scheduled for Thursday, 03-18-10 at 6:00 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!