On Friday, 03-12-10 at 7:00 AM ET Canada released their monthly CAD Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -
I did a post “preview” on Thursday, 03-11-10, you can click here to see that post.
Here is how the set up turned out:
CAD Employment Change stats:
Previous = 43.0K
Forecast = 17.5K
Actual = 20.9K
CAD Unemployment Rate stats:
Previous = 8.3%
Forecast = 8.3%
Actual = 8.2%
Here is how I was set up and what happened:
CAD-5-00AM-03-12-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual———-forecast———-previous
_____20.9K______17.5K________43.0K
out at -2.5K or less – BUY GBP/CAD
out at 37.5K or higher – SELL GBP/CAD
Good – “actual” came out higher then “forecast” by 3.4K
Bad – “actual” came out lower then “previous” by 22.1K
Actual < Forecast = Good for CAD
CAD Unemployment Rate
_______8.2%______ 8.3%________ 8.3%
Good – “actual” came out lower then “forecast” by 0.1%
Good – “actual” came out lower then “previous” by 0.1%
Both reports were in favor of the CAD!!!
entered 3 trades with the currency pair GBP/CAD – 2 wins
and one lose. Again, this currency pair performs the best!
Here are the charts!!
(CAD/JPY)
a one minute CAD/JPY chart
This CAD/JPY currency pair moved up for 45 minutes about 75 PIPS – right direction
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair moved down for 45 minutes about 116 PIPS – right direction
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair moved down for 45 minutes about 121 PIPS – right direction
entered 3 trades with the currency pair GBP/CAD – 2 wins
and one lose. Again, this currency pair performs the best!
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair moved down for 45 minutes about 78 PIPS – right direction
The next scheduled release of these reports will be on Friday 04-09-10 at 6:00 AM ET.
I will probably post a “preview” a day or two prior.
Remember, “Past performances are not an indication of future results!”
Stay tuned!
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