The Fundamental FOREX Blog

On Friday, 07-09-10 at 7:00 AM ET Canada released their monthly CAD Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -

I did a post “preview” on Thursday, 07-08-10, you can click here to see that post.

I entered 1 trade with the currency pair CAD/JPY – a winner!!

Both moved in favor of the CAD – the GBP/CAD had a better move!!

Here is how the set up turned out:

CAD Employment Change stats:

Previous = 24.7K

Forecast = 17.9K

Actual = 93.2K

CAD Unemployment Rate stats:

Previous = 8.1%

Forecast = 8.1%

Actual = 7.9%

Here is how I was set up and what happened:

CAD-7-00AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual——–forecast———previous
_____93.2K______17.9K_______24.7K
out at -2.1K or less – SELL CAD/JPY
out at 37.9K or higher – BUY CAD/JPY
Good – “actual” came out higher then “forecast” by 75.3K
Good – “actual” came out higher then “previous” by 68.5K

Actual < Forecast = Good for CAD
CAD Unemployment Rate
_______7.9%________ 8.1%________ 8.1%
Good – “actual” came out lower then “forecast” by 0.2%
Good – “actual” came out lower then “previous” by 0.2%

Here are the charts!!

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair moved up for 33 minutes about 85 PIPS – right direction
One small win here!

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved down for 54 minutes about 122 PIPS – right direction

(GBP/CAD)

a one minute GBP/CAD chart

Best currency pair move!!

This GBP/CAD currency pair moved down for 57 minutes about 165 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved down for 54 minutes about 98 PIPS - right direction

The next scheduled release of these reports will be on Friday 08-06-10 at 7:00 AM ET.

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

Remember, “Past performances are not an indication of future results!”

Stay tuned!