Forex Questions and Answers - FXAnswer

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by

Suneetha

1 year ago

On Wednesday, 06-23-10 at 8:30 AM ET, two Canadian reports will be released

CAD Retails Sales MoM
CAD Core Retail Sales MoM

These reports are stand-alone this time!

I posted a “follow up” post of last months reports on Tuesday, 06-01-10, 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 the set up tomorrow for the CAD “Retail Sales” reports:

CAD – Retail Sales MoM stats
Previous = 2.1%

Forecast = -0.4%

CAD – Core Retail Sales MoM stats
Previous = 1.7%

Forecast = 0.0%

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-06-23-10
Looking for a 1.5% difference
Actual > Forecast = Good for CAD
CAD Retail Sales m/m
——actual———-forecast——previous
________________-0.4%______2.1%
out at -1.9% or lower – SELL CAD/JPY
out at 1.1% or higher – BUY CAD/JPY
CAD Core Retail Sales m/m
_______________0.0%________1.7%

It appears that both reports are forecast to come out the same way – a decrease in retail sales!

I will post a “follow up” soon after.

The next release for these 2 reports is scheduled for Thursday, 07-22-10 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!

by

thegreeks

1 year ago

Your chart is not viewable. I did not apply the fibonacci rule. But if you examine the 5M chart, there was a period of congestion, and a momentum to the upside as the price broke through the high of 1.034 at 8:05 AM.

by

fxpie

1 year ago