The Fundamental FOREX Blog

On Monday, 08-31-10 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.

I posted a “preview” of this economic news report on Monday, 08-30-10, click here to view.

Here is what happened:

CAD Gross Domestic Product MoM – Stats

Previous = 0.1%

Forecast = 0.2%

Actual = 0.2%

Here is how I was set up and what happened:

CAD-8-30AM-ET-08-31-10
Looking for a 1.0% difference
Actual > Forecast = Good for CAD
CAD GDP m/m
——actual——-forecast——–previous
____0.2%______0.2%________0.1%
out higher  by 1.2% – SELL GBP/CAD
out lower by -0.8% – 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/JPY chart

This currency pair CAD/JPY moved down for 6 minutes about 30 PIPS
Moved up next 13 minutes about 24 PIPS

(EUR/CAD)

a one minute EUR/CAD chart

This currency pair EUR/CAD spiked up 1st minute about 39 PIPS
Ranged for 20 minutes

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/USD moved up for 50 minutes about 56 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This currency pair GBP/CAD spiked up 1st minute about 41 PIPS
Ranged for 23 minutes

(USD/CAD)

a one minute USD/CAD chart

This currency pair USD/CAD spiked up 1st minute about 27 PIPS
Moved down next 18 minutes about 31 PIPS

(USD/JPY)

a one minute USD/JPY chart

This currency pair USD/JPY moved down for 6 minutes about 14 PIPS
Ranged for 18 minutes

The next scheduled release of these reports on Thursday, 09-30-10 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!