On Monday, 07-30-10 at 8:30 AM ET, the Canadian Statistics Canada will release the monthly CAD Gross Domestic Product MoM report, released about 60 days after the months end.

Additional news releases are:

USD Advance GDP q/q
USD Advance GDP Price Index q/q

Released by the Bureau of Economic Analysis

USD Employment Cost Index q/q

Released by the Bureau of Labor Statistics

I posted a “follow up” on Sunday, 06-06-10 of the May news release, click here to see.

Here is what is going on tomorrow:

CAD Gross Domestic Product MoM – Stats

Previous = 0.0%

Forecast = 0.1%

Here is how I am set up for tomorrow:

CAD-8-30AM-ET-07-30-10
Looking for a 1.0% difference
Actual > Forecast = Good for CAD
CAD GDP m/m
——actual——-forecast——–previous
______________0.1%________0.0%
out higher  by 1.1% – SELL GBP/CAD
out lower by -0.9% – BUY GBP/CAD

I will set up to trade either the GBP/CAD or the EUR/CAD currency pairs – looking for a 1.0% difference between the “actual“ and the “forecast“.

Soon after this report is released, I will post a “follow up” report of the results.

The next scheduled release of this report is on Tuesday, 08-31-10 at 8:30 AM ET.

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

Stay tuned!

On Friday, 07-23-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM was released.

The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM appear to have the greatest impact on the FOREX market.

The 2 Consumer reports are released by Statistics Canada

I did a “preview” post on Thursday, 07-22-10, click here for a review.

Here is how things went:

CAD Core Consumer Price Index (MoM) Stats

previous = 0.3%

forecast = 0.1%

forecast = -0.1%

CAD Consumer Price Index (MoM) Stats

previous = 0.3%

forecast = -0.2%

forecast = -0.1%

Here is how I was set up and what happened:

CAD-7-00 AM-ET-07-23-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———forecast——–previous
_____-0.1%_______0.1%________0.3%
out at 0.4% or higher – SELL GBP/CAD
out at -0.2% or lower- BUY GBP/CAD
Bad – “actual” came out lower then “forecast” by 0.2%
Bad – “actual” came out lower then “previous” by 0.4%

CAD CPI m/m
_______-0.1%______-0.2%_______ 0.3%
Watch for both reports to go in same direction
Good – “actual” came out higher then “forecast” by 0.1%
Bad – “actual” came out lower then “previous” by 0.4%

Did not enter a trade this time!!

Here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked down/up 1st 2 minutes about 14 PIPS/ 35 PIPS
Ranged for 34 minutes

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair spike up 1st minute about 22 PIPS
Moved down for 59 minutes about 106 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair small move up 1st 2 minutes about
Moved down for 48 minutes about 40 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked up 1st minute about 29 PIPS
Moved down for 60 minutes about 118 PIPS

(GBP/USD)

a one minute USD/USD currency pair

This GBP/USD currency pair small move up 1st 2 minutes
Moved down for 52 minutes about 35 PIPS

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked up/down 1st 2 minutes about 18 PIPS/ 44 PIPS
Ranged for 34 minutes

The next release of this report is scheduled for Friday, 08-20-10 at 7:00 AM ET.

I have noticed lately that pre-scheduled economic news releases are sometimes re-scheduled later on.

I will probably post a preview of this report a day prior.

Stay tuned!

On Thursday, 07-22-10 at 8:30 AM ET, two Canadian reports were released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

And the USD – Initial Jobless Claims was released weekly by the Department of Labor

I posted a “preview” post on Wednesday, 07-21-10, 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 = -2.0%———–revised = -2.2%

Forecast = 0.5%

Actual = -0.2%

CAD – Core Retail Sales MoM stats
Previous = -1.2%———–revised = -1.4%

Forecast = 0.5%

Actual = -0.1%

Here is how I was set up and the results:

CAD-8-30AM-ET-07-22-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________0.5%______-2.0%
____-0.2%_______  0.5%_____  -2.2%
out at -1.0% or lower – SELL CAD/JPY
out at 2.0% or higher – BUY CAD/JPY
Bad – “actual” came out lower then “forecast” by 0.7%
Good – “actual” came out higher then “previous” by 1.8%

Good – “actual” came out higher then revised “previous” by 2.0%

CAD Core Retail Sales m/m
________________0.5%________-1.2%
____-0.1%_______ 0.5%_______ -1.4%
Bad – “actual” came out lower then “forecast” by 0.6%
Good – “actual” came out higher then “previous” by 1.1%
Good – “actual” came out higher then revised “previous” by 2.0%
Good – “actual” came out higher then revised “previous” by 1.3%

Executed 2 trades with currency pair CAD/JPY
Both winners!!!

The EUR/CAD and GBP/CAD currency pairs moved much better.

Check out the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked down/up 1st 3 minutes about 36 PIPS/ 25 PIPS
Moved down next 11 minutes about 40 PIPS – right direction
Executed  2 trades, both winners

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved up for 15 minutes about 60 PIPS – right direction

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair moved up for 15 minutes about 62 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up for 12 minutes about 49 PIPS - right direction

The next time these reports are scheduled to be released is on Tuesday, 08-24-10 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!

Tomorrow, Friday, 07-23-10 at 7:00 AM ET, The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM will be released.

These 2 reports are stand alone this time.

The CAD – Core Consumer Price Index MoM and the CAD – Consumer Price Index MoM appear to have a good impact on the FOREX market.

The 2 Consumer reports are released by Statistics Canada

I did a “follow up” post of last months reports – click here for a review.

Here is how things look for tomorrow:

CAD Core Consumer Price Index (MoM) Stats

previous = 0.3%

forecast = 0.1%

CAD Consumer Price Index (MoM) Stats

previous = 0.3%

forecast = -0.2%

The “forecast” for either of the Consumer Price Index reports shows that the economists are not in favor of the Canadian economy improving.

Here is how I am set up for tomorrow:

CAD-7-00AM-ET-07-23-10
Looking for a 0.3% difference
Actual > Forecast = Good for CAD
CAD Core Consumer Price Index (MoM)
——actual———forecast——–previous
________________0.1%________0.3%
out at 0.4% or higher – SELL GBP/CAD
out at -0.2% or lower- BUY GBP/CAD
CAD CPI m/m
_______________-0.2%_________ 0.3%
Watch for both reports to go in same direction
Watch for 3 minute reversal

It really helps if both reports move in concert. Watch out for conflict.

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

The next scheduled release of these reports is Friday, 08-20-10 at 7:00 AM ET.

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

Stay tuned!

Tomorrow, Thursday, 07-22-10 at 8:30 AM ET, two Canadian reports will be released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

These reports are being released with a USD report this time!

USD Unemployment Claims

Released weekly by the Department of Labor

I posted a “follow up” post of last months reports on Saturday, 07-03-10, 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“. But, it is good if they both move in the same direction.

Here is the set up tomorrow for the CAD “Retail Sales” reports:

CAD – Retail Sales MoM stats
Previous = -2.0%

Forecast = 0.5%

CAD – Core Retail Sales MoM stats
Previous = -1.2%

Forecast = 0.5%

If both reports come out in the same direction and are greater than the “forecast”, either positive or negative by say 1.5% or more, the market should have a good move over time.

Here is how I am set up for tomorrow:

CAD-8-30AM-ET-07-22-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________0.5%______-2.0%
out at -1.0% or lower – SELL CAD/JPY
out at 2.0% or higher – BUY CAD/JPY
CAD Core Retail Sales m/m
________________0.5%________-1.2%

It appears that both reports are forecast an increase in retail sales.

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

The next release for these 2 reports is scheduled for Tuesday, 08-24-10 at 8:30AM ET.

Some times the reports scheduling can be changed.

Anyway, I will probably be writing a “preview” post for next months reports.

Stay tuned!

On Friday, 07-09-10 at 8:15 AM ET, the CAD – Housing Starts report was released. This report is released monthly by CMHC – Canada Mortgage and Housing Corporation.

I wrote a “preview” post , click here for a review.

No trade was executed this time!!!! – Not enough of a difference between the “actual” and the “forecast”.

Here is what was happening on Tuesday, 07-09-10:

CAD – Housing Starts stats

Previous = 189K

Forecast = 193K

Actual = 189K

This looks like the CHMC believed that the Canadian housing starts would show an increase this time – which there was not.

Here is how this report was set up and what the results were:

CAD-8-15AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
____189K_______193K________189K
Out at 213K or higher BUY CAD/JPY
Out at 173K or lower SELL CAD/JPY
Bad – “actual” came out lower then “forecast” by 4K
Neutral – “actual” came out same as “previous”

No 6:30AM report!

Here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair minor ranged

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair minor ranged

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair minor ranged

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair minor ranged

The next time this will be released will be on Monday, 08-09-10 at 8:15 AM ET.

I will probably write a “preview” a day or two before the release.

Stay tuned!

On Friday, 07-09-10 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, 07-08-10, you can click here to see that post.

I entered 1 trade with the currency pair CAD/JPY – a winner!!

Both moved in favor of the CAD – the GBP/CAD had a better move!!

Here is how the set up turned out:

CAD Employment Change stats:

Previous = 24.7K

Forecast = 17.9K

Actual = 93.2K

CAD Unemployment Rate stats:

Previous = 8.1%

Forecast = 8.1%

Actual = 7.9%

Here is how I was set up and what happened:

CAD-7-00AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual——–forecast———previous
_____93.2K______17.9K_______24.7K
out at -2.1K or less – SELL CAD/JPY
out at 37.9K or higher – BUY CAD/JPY
Good – “actual” came out higher then “forecast” by 75.3K
Good – “actual” came out higher then “previous” by 68.5K

Actual < Forecast = Good for CAD
CAD Unemployment Rate
_______7.9%________ 8.1%________ 8.1%
Good – “actual” came out lower then “forecast” by 0.2%
Good – “actual” came out lower then “previous” by 0.2%

Here are the charts!!

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair moved up for 33 minutes about 85 PIPS – right direction
One small win here!

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair moved down for 54 minutes about 122 PIPS – right direction

(GBP/CAD)

a one minute GBP/CAD chart

Best currency pair move!!

This GBP/CAD currency pair moved down for 57 minutes about 165 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved down for 54 minutes about 98 PIPS - right direction

The next scheduled release of these reports will be on Friday 08-06-10 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!

On Wednesday, 07-07-10 at 10:00 AM ET, the CAD Ivey Purchasing Managers Index report was released.

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

I did a “preview“ post on Tuesday, 07-06-10, click here to see what was happening.

Here is what happened this month:

CAD Ivey Purchasing Managers Index report Stats

previous = 62.7

forecast = 64.1

actual = 58.9

Here is how I was set up and what happened:

CAD-10-00AM-ET-07-07-10
Looking for a 4 difference
Actual > Forecast = Good for CAD
CAD Ivey PMI
——actual———-forecast——-previous
_____58.9________64.1________62.7
Out at 68.1 or higher – SELL GBP/CAD
Out at 60.1 or lower – BUY GBP/CAD
Bad – “actual” came out lower then “forecast” by 5.2
Bad – “actual” came out lower then “previous” by 3.8

Entered 2 trades of GBP/CAD this time – both losers!!
Enough difference – Market moved in wrong direction on all 4 currency pairs

But, here are the charts:

(CAD/JPY)

a one minute CAD/JPY chart

This CAD/JPY currency pair spiked down/up 1st minute about 11 PIPS/ 10 PIPS
Moved up next 53 minutes about 38 PIPS – wrong direction

(EUR/CAD)

a one minute EUR/CAD chart

This EUR/CAD currency pair spiked up/down 1st minute about 24 PIPS/ 13 PIPS
Ranged down next 12 minutes about 17 PIPS – wrong direction
Ranged!

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair spiked up/down 1st minute about 28 PIPS/ 14 PIPS
Ranged down next 14 minutes about 29 PIPS – wrong direction
Ranged!

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair spiked up/down 1st minute about 18 PIPS/ 17 PIPS
Moved down next 54 minutes about 30 PIPS – wrong direction

The next scheduled release of this Canadian report will be on Friday, 08-06-10, at 10:00 AM ET.

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

Stay tuned!

Tomorrow, Friday, 07-09-10 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 Friday, 07-09-10:

CAD – Housing Starts stats

Previous = 189K

Forecast = 193K

This looks like the CHMC believes that the Canadian housing starts will show a small  increase this time, and therefore good for the CAD.

Here is how I am set up for tomorrow:

CAD-8-15AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Housing Starts
——actual———-forecast——-previous
_______________193K________189K
Out at 213K or higher SELL EUR/CAD
Out at 173K or lower BUY EUR/CAD
No 6:30AM 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 Monday, 08-09-10 at 8:15 AM ET.

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

Stay tuned!

Tomorrow, Friday, 07-09-10 at 7:00 AM ET Canada is releasing their monthly Net Employment Change and Unemployment Rate. These reports are released by “Statistics Canada”. -

I did a post “follow up” of last months reports, you can click here to see that post.

I did enter 2 trades and both were losing trades last month of the currency pair GBP/CAD.

These two reports are at times conflicting, so  –  be aware!

Here is the set up tomorrow:

CAD Employment Change stats:

Previous = 24.7K

Forecast = 17.9K

CAD Unemployment Rate stats:

Previous = 8.1%

Forecast = 8.1%

The Unemployment Rate “forecast“ shows no change.

And, the “forecast” for the Employment Change is not good for the Canadian economy.

Here is how I am set up for tomorrow:

CAD-7-00AM-ET-07-09-10
Looking for a 20K difference
Actual > Forecast = Good for CAD
CAD Employment Change
——actual——–forecast———previous
______________17.9K_______24.7K
out at -2.1K or less – SELL CAD/JPY
out at 37.9K or higher – BUY CAD/JPY
Actual < Forecast = Good for CAD
CAD Unemployment Rate
_______________ 8.1%________ 8.1%

Again, I will be looking for at least a 15K to 20K difference between the “actual” and the “forecast” of the Change in Employment – also, at least a 0.1% change in the Unemployment rate. Of course, both either in favor of or against the CAD.

The currency pair CAD/JPY looks good for my trade set up.

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

The next schedule release of these reports is Friday, 08-06-10 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!