On Friday, 03-19-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM were released and have a great impact on the FOREX market..
The 2 Consumer reports are released by Statistics Canada
I did a “preview” post on Thursday, 08-18-10 – click here for a review.
Here is how things went:
CAD Core Consumer Price Index (MoM) Stats
previous = 0.1%
forecast = 0.3%
forecast = 0.7%
CAD Consumer Price Index (MoM) Stats
previous = 0.3%
forecast = 0.4%
forecast = 0.4%
Here is how I was set up and what happened:
CAD-5-00AM-03-19-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———-forecast———-previous
_____0.7%_______0.3%________0.1%
out at 0.6% or higher – SELL GBP/CAD
out at 0.0% or lower- BUY GBP/CAD
Good – “actual” came out higher then the “forecast” by 0.4%
Good – “actual” came out higher then the “previous” by 0.6%
CAD CPI m/m 0.4% 0.4% 0.3%
Watch for both reports to go in same direction
Neutral – “actual” came out just as “forecast”
Good – “actual” came out higher then the “previous” by 0.1%
entered 2 trades of the currency pair GBP/CAD – both were losers
Here are the charts:
(CAD/JPY)
a one minute CAD/JPY chart
This CAD/JPY currency pair spike up/down 1st minute about 64 PIPS/ 14 PIPS
Ranged!
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair spike down/up 1st minute about 93 PIPS/ 15 PIPS
Moved down next 17 minutes about 24 PIPS – right direction
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair moved down next 18 minutes about 20 PIPS
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair spike down/up 1st minute about 105 PIPS/ 22 PIPS
Ranged!
Entered 2 losing trades here!
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair moved up for 48 minutes about 31 PIPS
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spike down/up 1st minute about 72 PIPS/ 17 PIPS
Ranged!
The next release of this report is scheduled for Friday, 04-23-10 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!
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