On Monday, 03-01-10 at 8:30 AM ET, the Canadian Statistics Canada did release the monthly CAD Gross Domestic Product MoM report, which is released about 60 days after the months end.
The additional reports are:
CAD Industrial Product Price (MoM)
CAD Raw Materials Price Index (MoM)
CAD Quarterly Gross Domestic Product Annualized (3Q)
USD Core PCE Price Index m/m
USD Personal Spending m/m
USD Personal Income m/m
The USD news reports are released by the Bureau of Economic Analysis.
I posted a “preview” of this economic news report on Sunday, 02-28-10, click here to view.
Here is what happened:
CAD Gross Domestic Product MoM – Stats
Previous = 0.4%
Forecast = 0.4%
Actual = 0.6%
Here is how I was set up and what happened:
CAD-6-30AM-03-01-10
Looking for a 1.0% difference
Actual > Forecast = Good for CAD
CAD GDP m/m
——actual———-forecast———-previous
____0.6%________0.4%________0.4%
out higher by 1.04% – SELL GBP/CAD
out lower by -0.6% – BUY GBP/CAD
Good – “actual” came out higher then the “forecast” by 0.2%
Good – “actual” came out higher then the “previous” by 0.2%
The “actual” was not higher then the “forecast” by 1.0%, but the market moved well, see charts.
I did not execute a trade this time since the “actual” was not great enough.
Here are the charts:
(EUR/CAD)
a one minute EUR/CAD chart
This currency pair EUR/CAD moved down for 13 minutes about 70 PIPS – right direction
(EUR/USD)
a one minute EUR/USD chart
This currency pair EUR/USD moved up 1st 2 minutes about 7 PIPS
Moved down for 9 minutes about 23 PIPS
Ranged!
(GBP/CAD)
a one minute GBP/CAD chart
This currency pair GBP/CAD moved down for 12 minutes about 95 PIPS – right direction
(GBP/USD)
a one minute GBP/USD chart
This currency pair GBP/USD – Ranged!
(USD/CAD)
a one minute USD/CAD chart
This currency pair USD/CAD moved down for 37 minutes about 62 PIPS – right direction
(USD/JPY)
a one minute USD/JPY chart
This currency pair USD/JPY Ranged!
Looks like the currency pair GBP/CAD had the best move for a trade.
The next scheduled release of these two reports on Wednesday, 03-31-10 at 7:30 AM ET, at this point in time there may be additional reports released at the same time.
I will probably post a “preview“ a day or two prior.
Stay tuned!
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