The Fundamental FOREX Blog

On Friday, 05-21-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM was released.

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 “preview” post on Thursday, 05-20-10 – click here for a review.

Here is how things went:

CAD Core Consumer Price Index (MoM) Stats

previous = -0.2%

forecast = 0.3%

actual = 0.3%

CAD Consumer Price Index (MoM) Stats

previous = 0.0%

forecast = 0.3%

actual = 0.3%

Here is how I was set up and what happened:

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%
_____0.3%______ 0.2%
out at 0.6% or higher – SELL GBP/CAD
out at 0.0% or lower- BUY GBP/CAD
Neutral – “actual” came out the same as “forecast”
Good – “actual” came out higher then revised “forecast” by 0.1%
Good – “actual” came out higher then “previous” by 0.5%

CAD CPI m/m               0.3%          0.0%
______0.3%_________ 0.2%
Watch that both reports to go in same direction
Neutral – “actual” came out the same as “forecast”
Good – “actual” came out higher then revised “forecast” by 0.1%
Good – “actual” came out higher then “previous” by 0.3%

Did not enter a trade this time!!

Here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair ranged for 3 minutes!
Moved down for 27 minutes about 104 PIPS

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair ranged for 15 minutes!
Moved up for 39 minutes about 85 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair ranged for 6 minutes!
Moved down for 12 minutes about 20 PIPS
Moved up for 39 minutes about 61 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved down for 5 minutes about 40 PIPS
Moved up for 44 minutes about 81 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 9 minutes about 35 PIPS
Moved up for 51 minutes about 71 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked down 1st minute about 23 PIPS
Moved up for 29 minutes about 63 PIPS

The next release of this report is scheduled for Tuesday, 06-22-10 at 7:00 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!