The Fundamental FOREX Blog

Tomorrow, Friday, 07-09-10 at 8:15 AM ET, the CAD – Housing Starts report will be released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.

I wrote a “follow up” post for last months housing starts report, click here for a review.

Last month the “actual” report did not come out with a high enough difference from the  “forecast”, and I did not enter a trade.

Check out the “follow up” link above for an idea what was going on.

Here is what is happening on Friday, 07-09-10:

CAD – Housing Starts stats

Previous = 189K

Forecast = 193K

This looks like the CHMC believes that the Canadian housing starts will show a small  increase this time, and therefore good for the CAD.

Here is how I am set up for tomorrow:

CAD-8-15AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
_______________193K________189K
Out at 213K or higher SELL EUR/CAD
Out at 173K or lower BUY EUR/CAD
No 6:30AM report!

I did write a “follow up” post soon after this report was finished, click here to see what happened.

The next time this will be released will be on Monday, 08-09-10 at 8:15 AM ET.

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

Stay tuned!