The Fundamental FOREX Blog

Tomorrow, Monday, 03-08-10 at 8:15 AM ET, the CAD – Housing Starts report will be released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.

I wrote a “follow up” post for last months housing starts report, click here for a review.

Last month the “actual” report did not come out enough higher then “forecast”, but it was good for the Canadian economy, and higher then the “previous” monthly report as well.

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

I did not enter a trade last month.

Here is what is happening on Monday, 03-08-10:

CAD – Housing Starts stats

Previous = 186K

Forecast = 186K

This looks like the CHMC believes that the Canadian housing starts will not show an increase this time, or a decline either.

Here is how I am set up for tomorrow:

CAD-6-15AM-03-08-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast———-previous
_______________186K________186K
Out at 206K or higher SELL GBP/CAD
Out at 166K or lower BUY GBP/CAD
No 6:30AM report!

I did write a “follow up” post soon after this report was finished, click here to see what happened.

The next time this will be released will be on Tuesday, 04-09-10 at 7:15 AM ET.

I will probably post a “preview” a day more two prior.

Stay tuned!