The Fundamental FOREX Blog

On Wednesday, 06-23-10 at 8:30 AM ET, two Canadian reports were released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

I posted a “preview” post on Tuesday, 06-22-10, click here for a review.

Canada’s “Statistics Canada”  release these monthly reports.

It appears that the “Retail Sales” report has a little more impact for traders than the “Core Retail Sales“.

Here is what happened when the “Retail Sales” and “Core Retail Sales” reports were released:

CAD – Retail Sales MoM stats
Previous = 2.1%———–revised = 2.2%

Forecast = -0.4%

Actual = -2.0%

CAD – Core Retail Sales MoM stats
Previous = 1.7%

Forecast = 0.0%

Actual = -1.2%

Here is how I was set up and the results:

CAD-8-AM-ET-06-23-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________-0.4%______2.1%
_____-2.0%______ -0.4%______ 2.2%
out at -1.9% or lower – SELL CAD/JPY
out at 1.1% or higher – BUY CAD/JPY
Bad – “actual” came out lower then “forecast” by 1.6%
Bad – “actual” came out lower then “previous” by 4.1%
Bad – “actual” came out lower then revised “previous” by 4.2%

CAD Core Retail Sales m/m
______-1.2%_____0.0%________1.7%
Bad – “actual” came out lower then “forecast” by 1.2%
Bad – “actual” came out lower then “previous” by 2.7%

Executed 2 trades with currency pair CAD/JPY
Both winners

Check out the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair moved down next 60 minutes about 62 PIPS – right direction
Executed  2 trades, 2 winning trades

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved up next 60 minutes about 83 PIPS – right direction

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved up next 60 minutes about 99 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up next 60 minutes about 78 PIPS – right direction

The next time these reports are scheduled to be released is on Thursday, 07-22-10 at 8:30AM ET.

Some times report scheduling can be changed.

Chances are I will post a “preview” of these reports a day or two prior.

Stay tuned!