Tomorrow, Friday, 05-21-10 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 and the CAD – Consumer Price Index MoM appear 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 = -0.2%
forecast = 0.3%
CAD Consumer Price Index (MoM) Stats
previous = 0.0%
forecast = 0.3%
The “forecast” for either of the Consumer Price Index reports shows that the economists are in favor of the Canadian economy going up.
Here is how I am set up for tomorrow:
CAD-7-00AM-ET-05-21-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———forecast——–previous
_______________0.3%________-0.2%
out at 0.6% or higher – SELL GBP/CAD
out at 0.0% or lower- BUY GBP/CAD
CAD CPI m/m 0.3% 0.0%
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 Tuesday, 06-22-10 at 7:00 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
