Canada Core Retail Sales m/m 11/23/09

8:30am NY Time Canada Core Retail Sales    Forecast 0.4%    Previous 0.5%
ACTION: USD/CAD        BUY -0.2%         SELL 1.0%

We’ll trade the Core Retail Sales release from Canada and not the headline release; the core release as a forecast expectation of 0.4% with a previous release at 0.5%.  Core Retail Sales release is a measurement of the activities at the retail level of Canada, excluding most volatile Automobile Sales Components, which makes up about 25% of Retail Sales headline number. A better release means more consumer spending, which leads to better economy, thus better for its currency.  And of course the CORE reading provides a far more accurate look of the actual economy.

I’m going to be looking for a minimum deviation of 0.6% from this release.  Therefore if we get a -0.2%, it would be negative for the CAD and we’ll be looking to BUY USd/CAD; however, if the opposite is true, or a 1.0% of actual release, I’ll be looking to SELL USD/CAD.  One interesting observation on the CAD lately is that market could be looking to SELL CAD as Crude Oil prices may have reached a top for this year… Therefore my bias is actually LONG on the USD/CAD pair.

I’ll be posting my live trade video back in the blog as soon as I can.

Related posts:

1. US Core Retail Sales m/m 11/16/09
2. UK Retail Sales m/m 11/19/09
3. US Core Retail Sales m/m 10/14/09
4. UK Retail Sales m/m 10/22/09
5. US Core Retail Sales m/m 12/11/09
6. UK Retail Sales m/m 12/17/09
7. US Core Retail Sales m/m 09/15/09
8. Forex Trade Plan For NZ Retail Sales m/m 07/13/10
9. UK Retail Sales m/m 02/19/2010
10. UK Retail Sales m/m 01/22/10

Tagged as: Automobile Sales, Bias, Blog, CAD, Canada, Canada news, Commodities, Consensus, Consumption, Core Reading, currency, economy, Expectation, Forex, Forex News, Fundamental News, Headline Number, Historical Accuracy, Investors, Measurement, pips, retail level, Retail Sales, Surprise, Time Ca, trade