On Tuesday, 06-08-10 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 was happening on Tuesday, 06-08-10:
CAD – Housing Starts stats
Previous = 201K
Forecast = 206K———–revised = 203K
Actual = 189K
This looks like the CHMC believed that the Canadian housing starts would show an increase this time – which there was not.
Here is how this report was set up and what the results were:
CAD-8-15AM-ET-06-08-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
_______________206K________201K
_____189K_____ 203K ________201K
Out at 226K or higher SELL EUR/CAD
Out at 186K or lower BUY EUR/CAD
Bad – “actual” came out lower then “forecast” by 17K
Bad – “actual” came out lower then revised “forecast” by 14K
Bad – “actual” came out lower then “previous” by 12K
No 6:30AM report!
Here are the charts:
(CAD/JPY)
a one minute CAD/JPY chart
This CAD/JPY currency pair spike down 1st minute about 14 PIPS – right direction
Move up for 8 minute about 21 PIPS – wrong direction
Move down for 36 minute about 50 PIPS – right direction
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair spike up/down 1st 5 minutes about 12 PIPS/ 20 PIPS
Move up for 13 minutes about 22 PIPS – right direction
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair spike up/down for 8 minutes about 13 PIPS/ 23 PIPS
Move up for 9 minutes about 25 PIPS – right direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spike up/down for 4 minutes about 10 PIPS/ 23 PIPS
Move up for 12 minutes about 26 PIPS - right direction
The next time this will be released will be on Friday, 07-09-10 at 8:15 AM ET.
I will probably write a “preview” a day or two before the release.
Stay tuned!
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