On Friday, 08-06-10 at 7:00 AM ET Canada released their monthly CAD Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -
I did a post “preview” on Thursday, 08-05-10, you can click here to see that post.
I entered 1 trade with the currency pair GBP/CAD – a winner!!
Both reports moved against the CAD!!
Here is how the set up turned out:
CAD Employment Change stats:
Previous = 93.2K
Forecast = 10.3K————revised=13.7K
Actual = -9.3K
CAD Unemployment Rate stats:
Previous = 7.9%
Forecast = 7.9%
Actual = 8.0%
Here is how I was set up and what happened:
CAD-7-00AM-ET-08-06-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual——–forecast———previous
______________10.3K_______93.2K
_____-9.3K____ 13.7K
out at -10.3K or less – BUY GBP/CAD
out at 30.3K or higher – SELL GBP/CAD
Bad – “actual” came out lower then “forecast” by 19.6K
Bad – “actual” came out lower then revised “forecast” by 23K
Bad – “actual” came out lower then “previous” by 102.5K
Actual < Forecast = Good for CAD
CAD Unemployment Rate
______8.0%__________ 7.9%________ 7.9%
Bad – “actual” came out higher then “forecast” by 0.1%
Bad – “actual” came out higher then “previous” by 0.1%
Here are the charts!!
(CAD/JPY)
a one minute CAD/JPY chart
This CAD/JPY currency pair spiked down/up 1st minute about 45 PIPS/ 11 PIPS
Ranged for 59 minutes.
(EUR/CAD)
a one minute EUR/CAD chart
This EUR/CAD currency pair spiked up/down 1st 2 minutes about 61 PIPS/ 11 PIPS
Ranged for 58 minutes.
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair spiked up/down 1st 2 minutes about 80 PIPS/ 14 PIPS
Ranged for 58 minutes.
Small winning trade here!
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spiked up/down 1st 2 minutes about 48 PIPS/ 8 PIPS
Ranged for 58 minutes.
The next scheduled release of these reports will be on Friday 09-10-10 at 7:00 AM ET.
I will probably post a “preview” a day or two prior.
Remember, “Past performances are not an indication of future results!”
Stay tuned!
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