The Fundamental FOREX Blog

On Tuesday, 08-24-10 at 8:30 AM ET, two Canadian reports were released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

I posted a “preview” post on Monday, 08-23-10, click here for a review.

Canada’s “Statistics Canada”  release these monthly reports.

It appears that the “Retail Sales” report has a little more impact for traders than the “Core Retail Sales“.

Here is what happened when the “Retail Sales” and “Core Retail Sales” reports were released:

CAD – Retail Sales MoM stats
Previous = -0.2%———–revised = -0.4%

Forecast = 0.4%

Actual = 0.1%

CAD – Core Retail Sales MoM stats
Previous = -0.1%———–revised = -0.3%

Forecast = 0.1%

Actual = -0.5%

Here is how I was set up and the results:

CAD-8-30AM-ET-08-24-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________0.4%______-0.2%
_____0.1%_______ 0.4%_____ -0.4%
out at -1.1% or lower – SELL CAD/JPY
out at 1.9% or higher – BUY CAD/JPY
Bad – “actual” came out lower then “forecast” by 0.3%
Good – “actual” came out higher then “previous” by 0.3%
Good – “actual” came out higher then revised “previous” by 0.5%

CAD Core Retail Sales m/m
________________0.1%________-0.1%
_____-0.5%______ 0.1%_______ -0.3%
Bad – “actual” came out lower then “forecast” by 0.6%
Bad – “actual” came out lower then “previous” by 0.4%
Bad – “actual” came out lower then revised “previous” by 0.2%

Did not enter a trade this time!

Check out the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair ranged for 60 minutes

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved up 1st 3 minutes about 40 PIPS
Moved down next 20 minutes about 30 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved up 1st 3 minutes about 44 PIPS
Moved down next 17 minutes about 38 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up 1st 3 minutes about 23 PIPS
Moved down next 17 minutes about 20 PIPS

The next time these reports are scheduled to be released is on Wednesday, 09-22-10 at 8:30AM ET.

Some times report scheduling can be changed.

Chances are I will post a “preview” of these reports a day or two prior.

Stay tuned!