The Fundamental FOREX Blog

Tomorrow, Monday, 04-12-10 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 come out higher then “forecast”, and it was good for the Canadian economy, and higher then the “previous” monthly report.

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, 04-12-10:

CAD – Housing Starts stats

Previous = 197K

Forecast = 201K

This looks like the CHMC believes that the Canadian housing starts will show an increase this time, and therefore good for the CAD.

Here is how I am set up for tomorrow:

CAD-6-15AM-04-12-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast———-previous
_______________201K________197K
Out at 221K or higher SELL GBP/CAD
Out at 181K or lower BUY GBP/CAD
No 6:30 AM 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, 05-10-10 at 7:15 AM ET.

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

Stay tuned!