The Fundamental FOREX Blog

On Monday, 05-31-10 at 8:30 AM ET, the Canadian Statistics Canada did release the monthly CAD Gross Domestic Product MoM report, which is released about 60 days after the months end.

Additional news releases were:

CAD – RMPI
CAD – IPPI

I posted a “preview” of this economic news report on Sunday, 05-30-10, click here to view.

Here is what happened:

CAD Gross Domestic Product MoM – Stats

Previous = 0.3%————-revised = 0.2%

Forecast = 0.5%

Actual = 0.6%

Here is how I was set up and what happened:

CAD-8-30AM-ET-05-31-10
Looking for a 1.0% difference
Actual > Forecast = Good for CAD
CAD GDP m/m
——actual——-forecast——–previous
______________0.5%________0.3%
_____0.6% _____0.5%_______ 0.2%
out higher  by 1.5% – SELL GBP/CAD
out lower by -0.5% – BUY GBP/CAD
Good – “actual” came out higher then “forecast” by 0.1%
Good – “actual” came out higher then “previous” by 0.3%
Good – “actual” came out higher then revised “previous” by 0.4%

I did not execute a trade this time since the “actual” was not great enough.

Here are the charts:

(CAD/JPY)

a one minute CAD/JPYchart

This currency pair CAD/JPY moved up for 51 minutes about 43 PIPS – right direction

(EUR/CAD)

a one minute EUR/CAD chart

This currency pair EUR/CAD moved down for 51 minutes about 61 PIPS – right direction

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/USD ranged for 25 minutes

(GBP/CAD)

a one minute GBP/CAD chart

This currency pair GBP/CAD moved down for 51 minutes about 71 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This currency pair USD/CAD moved down for 51 minutes about 52 PIPS – right direction

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY ranged for 22 minutes

The next scheduled release of these reports on Wednesday, 06-30-10 at 8:30 AM ET, at this point in time there may be additional reports released at the same time.

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

Stay tuned!