The Fundamental FOREX Blog

Tomorrow, Friday, 08-06-10 at 10:00 AM ET, the CAD Ivey Purchasing Managers Index report will be released.

This report is released by Richard Ivey School of Business on a monthly basis.

I did enter 2 trades last month of the currency pair GBP/CAD – both losers!!

I did a follow up post the last time this was released alone, click here to see what happened.

Here is what is happening tomorrow:

CAD Ivey Purchasing Managers Index report Stats

previous = 58.9

forecast = 56.3

Here is how I am set up:

CAD-10-00AM-ET-08-06-10
Looking for a 4 difference
Actual > Forecast = Good for CAD
CAD Ivey PMI
——actual———-forecast——-previous
_________________56.3________58.9
Out at 60.3 or higher – SELL GBP/CAD
Out at 52.3 or lower – BUY GBP/CAD

I believe I will set up to trade the currency pair GBP/CAD again this time – so, if the “actual” comes out with a difference of at least 4.0 from the “forecast” – a trade may be in the works.

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

The next scheduled release of this Canadian report will be on Wednesday, 09-08-10, and again it appears it will be a “stand alone“ report.

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

Stay tuned!