The Fundamental FOREX Blog

On Friday, 02-19-10 at 8:30 AM ET, two Canadian reports were released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

Along with these reports the following news reports were released:

CAD Leading Indicators (MoM)
USD Core CPI m/m
USD CPI m/m

I posted a “preview” post on Thursday, 02-18-10, click here for a review.

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 what happened when the “Retail Sales” and “Core Retail Sales” reports were released:

CAD – Retail Sales MoM stats
Previous = -0.3%———–revised = -0.5%

Forecast = 0.6%

Actual = 0.4%

CAD – Core Retail Sales MoM stats
Previous = 0.0%———–revised = -0.2%

Forecast = 0.4%

Actual = 0.4%

Here is how I was set up and the results:

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%
_____0.4%_______ 0.6%_______ -0.5%
out at -0.9% or lower – SELL CAD/JPY
out at 2.1% or higher – BUY CAD/JPY
Bad – “actual” came out lower then “forecast” by 0.2%
Good – “actual” came out higher then “previous” by 0.7%
Good – “actual” came out higher then revised “previous” by 0.9%

CAD Core Retail Sales m/m
_______________0.4%__________0.0%
_____0.4% ______0.4% _________-0.2%
Neutral – “actual” came out just as “forecast”
Good – “actual” came out higher then “previous” by 0.4%
Good – “actual” came out higher then revised “previous” by 0.6%

These 2 reports were not necessarily bad for the CAD, I did enter a trade.

Check out the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair moved down 1st 5 minutes about 15 PIPS
Moved up next 34 minutes about 29 PIPS
Had a winning trade here!

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair spiked up/down 1st minute
moved down next 38 minutes about 37 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked up/down 1st minute
moved down next 20 minutes about 23 PIPS
Moved up next 38 minutes about 30 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked down 1st 3 minutes about 20 PIPS
moved up next 8 minutes about 20 PIPS
Ranged down

The next time these reports are scheduled to be released is on Friday, 03-19-10 at 7:30AM ET.

Some times report scheduling can be changed.

Chances are I will post a “preview” of these reports a day or two prior.

Stay tuned!