The Fundamental FOREX Blog

On Thursday, 07-22-10 at 8:30 AM ET, two Canadian reports were released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

And the USD – Initial Jobless Claims was released weekly by the Department of Labor

I posted a “preview” post on Wednesday, 07-21-10, 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 = -2.0%———–revised = -2.2%

Forecast = 0.5%

Actual = -0.2%

CAD – Core Retail Sales MoM stats
Previous = -1.2%———–revised = -1.4%

Forecast = 0.5%

Actual = -0.1%

Here is how I was set up and the results:

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%
____-0.2%_______  0.5%_____  -2.2%
out at -1.0% or lower – SELL CAD/JPY
out at 2.0% or higher – BUY CAD/JPY
Bad – “actual” came out lower then “forecast” by 0.7%
Good – “actual” came out higher then “previous” by 1.8%

Good – “actual” came out higher then revised “previous” by 2.0%

CAD Core Retail Sales m/m
________________0.5%________-1.2%
____-0.1%_______ 0.5%_______ -1.4%
Bad – “actual” came out lower then “forecast” by 0.6%
Good – “actual” came out higher then “previous” by 1.1%
Good – “actual” came out higher then revised “previous” by 2.0%
Good – “actual” came out higher then revised “previous” by 1.3%

Executed 2 trades with currency pair CAD/JPY
Both winners!!!

The EUR/CAD and GBP/CAD currency pairs moved much better.

Check out the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked down/up 1st 3 minutes about 36 PIPS/ 25 PIPS
Moved down next 11 minutes about 40 PIPS – right direction
Executed  2 trades, both winners

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved up for 15 minutes about 60 PIPS – right direction

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved up for 15 minutes about 62 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up for 12 minutes about 49 PIPS - right direction

The next time these reports are scheduled to be released is on Tuesday, 08-24-10 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!