The Fundamental FOREX Blog

On Friday, 06-04-10 at 7:00 AM ET Canada released their monthly CAD Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -

I did a post “preview” on Thursday, 06-03-10, you can click here to see that post.

Here is how the set up turned out:

CAD Employment Change stats:

Previous = 108.7K

Forecast = 16.8K

Actual = 24.7K

CAD Unemployment Rate stats:

Previous = 8.1%

Forecast = 8.1%

Actual = 8.1%

Here is how I was set up and what happened:

CAD-7-00AM-ET-06-04-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual——–forecast———previous
_____24.7K_____16.8K_______108.7K
out at -3.2K or less – BUY GBP/CAD
out at 36.8K or higher – SELL GBP/CAD
Good – “actual” came out higher then “forecast” by 7.9
Bad – “actual” came out lower then “previous” by 84.0K

Actual < Forecast = Good for CAD
CAD Unemployment Rate
_____8.1%______ 8.1%________ 8.1%
Neutral – “actual” came out same as “forecast”
Neutral – “actual” came out same as “previous”

Here are the charts!!

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked up/down 1st minute about 20 PIPS/ 30 PIPS
moved down next 50 minutes about 88 PIPS

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair spiked down/up 1st minute about 36 PIPS/ 25 PIPS
Ranged up next 21 minutes about 36 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked down/up 1st minute about 45PIPS/ 35 PIPS
Ranged up next 11 minutes about 55 PIPS
I entered 2 trades with the currency pair GBP/CAD – both losers.

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked down/up 1st minute about 30 PIPS/ 31 PIPS
Moved up next 49 minutes about 90 PIPS

The next scheduled release of these reports will be on Friday 07-09-10 at 7:00 AM ET.

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

Remember, “Past performances are not an indication of future results!”

Stay tuned!