The Fundamental FOREX Blog

On Wednesday, 07-07-10 at 10:00 AM ET, the CAD Ivey Purchasing Managers Index report was released.

This report is released by Richard Ivey School of Business on a monthly basis.

I did a “preview“ post on Tuesday, 07-06-10, click here to see what was happening.

Here is what happened this month:

CAD Ivey Purchasing Managers Index report Stats

previous = 62.7

forecast = 64.1

actual = 58.9

Here is how I was set up and what happened:

CAD-10-00AM-ET-07-07-10
Looking for a 4 difference
Actual > Forecast = Good for CAD
CAD Ivey PMI
——actual———-forecast——-previous
_____58.9________64.1________62.7
Out at 68.1 or higher – SELL GBP/CAD
Out at 60.1 or lower – BUY GBP/CAD
Bad – “actual” came out lower then “forecast” by 5.2
Bad – “actual” came out lower then “previous” by 3.8

Entered 2 trades of GBP/CAD this time – both losers!!
Enough difference – Market moved in wrong direction on all 4 currency pairs

But, here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked down/up 1st minute about 11 PIPS/ 10 PIPS
Moved up next 53 minutes about 38 PIPS – wrong direction

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair spiked up/down 1st minute about 24 PIPS/ 13 PIPS
Ranged down next 12 minutes about 17 PIPS – wrong direction
Ranged!

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked up/down 1st minute about 28 PIPS/ 14 PIPS
Ranged down next 14 minutes about 29 PIPS – wrong direction
Ranged!

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked up/down 1st minute about 18 PIPS/ 17 PIPS
Moved down next 54 minutes about 30 PIPS – wrong direction

The next scheduled release of this Canadian report will be on Friday, 08-06-10, at 10:00 AM ET.

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

Stay tuned!