The Fundamental FOREX Blog

Tomorrow, Friday, 04-23-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM will be released.

These 2 reports are stand alone this time.

The CAD – Core Consumer Price Index MoM appears to have the greatest impact on the FOREX market.

The 2 Consumer reports are released by Statistics Canada

I did a “follow up” post of last months reports – click here for a review.

Here is how things look for tomorrow:

CAD Core Consumer Price Index (MoM) Stats

previous = 0.7%

forecast = 0.1%

CAD Consumer Price Index (MoM) Stats

previous = 0.4%

forecast = 0.2%

The “forecast” for either of the Consumer Price Index reports shows that the economists are not in favor of the Canadian economy going up.

Here is how I am set up for tomorrow:

CAD-5-00AM-04-23-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———-forecast———-previous
________________0.1%________0.7%
out at 0.4% or higher – SELL GBP/CAD
out at -0.2% or lower- BUY GBP/CAD
CAD CPI m/m 0.2%            0.4%
Watch for both reports to go in same direction
Watch for 3 minute reversal

It really helps if both reports move in concert. Watch out for conflict.

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

The next scheduled release of these reports is Friday, 05-21-10 at 7:00 AM ET.

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

Stay tuned!