On Friday, 07-23-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM was released.
The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM appear to have the greatest impact on the FOREX market.
The 2 Consumer reports are released by Statistics Canada
I did a “preview” post on Thursday, 07-22-10, click here for a review.
Here is how things went:
CAD Core Consumer Price Index (MoM) Stats
previous = 0.3%
forecast = 0.1%
forecast = -0.1%
CAD Consumer Price Index (MoM) Stats
previous = 0.3%
forecast = -0.2%
forecast = -0.1%
Here is how I was set up and what happened:
CAD-7-00 AM-ET-07-23-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———forecast——–previous
_____-0.1%_______0.1%________0.3%
out at 0.4% or higher – SELL GBP/CAD
out at -0.2% or lower- BUY GBP/CAD
Bad – “actual” came out lower then “forecast” by 0.2%
Bad – “actual” came out lower then “previous” by 0.4%
CAD CPI m/m
_______-0.1%______-0.2%_______ 0.3%
Watch for both reports to go in same direction
Good – “actual” came out higher then “forecast” by 0.1%
Bad – “actual” came out lower then “previous” by 0.4%
Did not enter a trade this time!!
Here are the charts:
(CAD/JPY)
a one minute CAD/JPY chart
This CAD/JPY currency pair spiked down/up 1st 2 minutes about 14 PIPS/ 35 PIPS
Ranged for 34 minutes
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair spike up 1st minute about 22 PIPS
Moved down for 59 minutes about 106 PIPS
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair small move up 1st 2 minutes about
Moved down for 48 minutes about 40 PIPS
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair spiked up 1st minute about 29 PIPS
Moved down for 60 minutes about 118 PIPS
(GBP/USD)
a one minute USD/USD currency pair
This GBP/USD currency pair small move up 1st 2 minutes
Moved down for 52 minutes about 35 PIPS
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spiked up/down 1st 2 minutes about 18 PIPS/ 44 PIPS
Ranged for 34 minutes
The next release of this report is scheduled for Friday, 08-20-10 at 7:00 AM ET.
I have noticed lately that pre-scheduled economic news releases are sometimes re-scheduled later on.
I will probably post a preview of this report a day prior.
Stay tuned!
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