The Fundamental FOREX Blog

Tomorrow, Thursday, 07-22-10 at 8:30 AM ET, two Canadian reports will be released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

These reports are being released with a USD report this time!

USD Unemployment Claims

Released weekly by the Department of Labor

I posted a “follow up” post of last months reports on Saturday, 07-03-10, 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“. But, it is good if they both move in the same direction.

Here is the set up tomorrow for the CAD “Retail Sales” reports:

CAD – Retail Sales MoM stats
Previous = -2.0%

Forecast = 0.5%

CAD – Core Retail Sales MoM stats
Previous = -1.2%

Forecast = 0.5%

If both reports come out in the same direction and are greater than the “forecast”, either positive or negative by say 1.5% or more, the market should have a good move over time.

Here is how I am set up for tomorrow:

CAD-8-30AM-ET-07-22-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________0.5%______-2.0%
out at -1.0% or lower – SELL CAD/JPY
out at 2.0% or higher – BUY CAD/JPY
CAD Core Retail Sales m/m
________________0.5%________-1.2%

It appears that both reports are forecast an increase in retail sales.

I did post a “follow up” soon after, click here to see what happened.

The next release for these 2 reports is scheduled for Tuesday, 08-24-10 at 8:30AM ET.

Some times the reports scheduling can be changed.

Anyway, I will probably be writing a “preview” post for next months reports.

Stay tuned!