The Fundamental FOREX Blog

On Monday, 05-10-10 at 8:15 AM ET, the CAD – Housing Starts report was released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.

I wrote a “preview” post , click here for a review.

No trade was executed this time!!!! – Not enough of a difference between the “actual” and the “forecast”.

Here is what is happening on Monday, 05-10-10:

CAD – Housing Starts stats

Previous = 201K———–revised = 199K

Forecast = 203K

Actual = 202K

This looks like the CHMC believed that the Canadian housing starts would show an increase this time – which there was a minor amount.

Here is how this report was set up and what the results were:

CAD-8-15AM-ET-05-10-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
_______________203K________201K
____202K______ 203K________ 199K
Out at 223K or higher SELL EUR/CAD
Out at 183K or lower BUY EUR/CAD
No 6:30AM report!
Bad – “actual” came out lower then “forecast” by 1K
Good – “actual” came out higher then “previous” by 1K
Good – “actual” came out higher then revised “previous” by 3K

Here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair move down for 50 minute about 75 PIPS – right direction

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair move down for 14 minute about 23 PIPS – wrong direction
Move up next 9 minute about 26 PIPS – right direction
Move down next 5 minute about 47 PIPS – wrong direction

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair move up for 8 minute about 35 PIPS – right direction
Move down next 6 minute about 34 PIPS – wrong direction
Move up next 36 minute about 99 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair move up for 31 minute about 45 PIPS – right direction

The next time this will be released will be on Wednesday, 06-09-10 at 8:15 AM ET.

I will probably write a “preview” a day or two before the release.

Stay tuned!