On Tuesday, 06-22-10 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 Monday, 06-21-10, click here for a review.
Here is how things went:
CAD Core Consumer Price Index (MoM) Stats
previous = 0.3%
forecast = 0.3%
forecast = 0.3%
CAD Consumer Price Index (MoM) Stats
previous = 0.3%
forecast = 0.1%
forecast = 0.3%
Here is how I was set up and what happened:
CAD-7-00AM-ET-06-22-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———forecast——–previous
_____0.3%_______0.3%________0.3%
out at 0.6% or higher – SELL GBP/CAD
out at 0.0% or lower- BUY GBP/CAD
Neutral – “actual” came the same as “forecast”
Neutral – “actual” came the same as “previous”
CAD CPI m/m
_____0.3%_______0.1%_______ 0.3%
Watch for both reports to go in same direction
Good – “actual” came out higher then “forecast” by 0.2%
Neutral – “actual” came the same as “previous”
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 down for 10 minutes about 20 PIPS!
Moved up for 12 minutes about 25 PIPS
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair moved up for 11 minutes about 25 PIPS!
Moved down for 40 minutes about 29 PIPS
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair moved up for 9 minutes about 9 PIPS!
Moved down for 8 minutes about 11 PIPS
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair ranged for 16 minutes!
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair moved down for 17 minutes about 28 PIPS!
Moved up for 24 minutes about 40 PIPS
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair moved up for 11 minutes about 21 PIPS!
Moved down for 46 minutes about 33 PIPS
The next release of this report is scheduled for Friday, 07-23-10 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!
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