The Fundamental FOREX Blog

On Monday, 07-30-10 at 8:30 AM ET, the Canadian Statistics Canada did release the monthly CAD Gross Domestic Product MoM report, which is released about 60 days after the months end.

Additional news releases were:

USD Advance GDP q/q
USD Advance GDP Price Index q/q
USD Employment Cost Index q/q

I posted a “preview” of this economic news report on Thursday, 07-29-10, click here to view.

Here is what happened:

CAD Gross Domestic Product MoM – Stats

Previous = 0.0%

Forecast = 0.1%

Actual = 0.1%

Here is how I was set up and what happened:

CAD-8-30AM-ET-07-30-10
Looking for a 1.0% difference
Actual > Forecast = Good for CAD
CAD GDP m/m
——actual——-forecast——–previous
_____0.1%_____0.1%________0.0%
out higher  by 1.1% – SELL GBP/CAD
out lower by -0.9% – BUY GBP/CAD

Neutral “actual” came out just as “forecast“
Good “actual” came out higher then “previous“ by 0.1%

I did not execute a trade this time since the “actual” was not great enough.

Here are the charts:

(CAD/JPY)

a one minute CAD/JPYchart

This currency pair CAD/JPY moved down for 11 minutes about 50 PIPS

(EUR/CAD)

a one minute EUR/CAD chart

This currency pair EUR/CAD spiked down 1st minute about 25 PIPS
Moved up for 11 minutes about 54 PIPS

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/USD moved down 1st 2 minutes about 13 PIPS
Moved up next 5 minutes about 30 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This currency pair GBP/CAD spiked down 1st minute about 25 PIPS
Moved up for 18 minutes about 69 PIPS

(USD/CAD)

a one minute USD/CAD chart

This currency pair USD/CAD ranged for 10 minutes
Moved up for 44 minutes about 27 PIPS

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY moved down for 11 minutes about 46 PIPS
Moved up next 28 minutes about 36 PIPS

The next scheduled release of these reports on Tuesday, 08-31-10 at 8:30 AM ET, at this point in time there may be additional reports released at the same time.

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

Stay tuned!