Tomorrow, Tuesday, 08-10-10 at 8:15 AM ET, the CAD – Housing Starts report will be released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.
I wrote a “follow up” post for last months housing starts report, click here for a review.
Last month the “actual” report did not come out with a high enough difference from the “forecast”, and I did not enter a trade.
Check out the “follow up” link above for an idea what was going on.
Here is what is happening on Tuesday, 08-10-10:
CAD – Housing Starts stats
Previous = 193K
Forecast = 185K
This looks like the CHMC believes that the Canadian housing starts are slowing now, and therefore not good for the CAD.
Here is how I am set up for tomorrow:
CAD-8-15AM-ET-08-10-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
_______________185K________193K
Out at 205K or higher BUY CAD/JPY
Out at 165K or lower SELL CAD/JPY
There is a 8:30AM-ET USD news report!
I did write a “follow up” post soon after this report was finished, click here to see what happened.
The next time this will be released will be on Thursday, 09-09-10 at 8:15 AM ET.
I will probably post a “preview” a day more two prior.
Stay tuned!
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