Canada Core Retail Sales 03/19/2010

8:30am NY Time Core Retail Sales    Forecast 0.5%    Previous 0.5%
ACTION: USD/CAD        BUY -0.1%         SELL 1.1%

We’ll be focusing on the Canadian Core Retail Sales release today and not the headline Retail Sales release; the core release has a forecast expectation of 0.5% with a previous release at 0.4%.  Core Retail Sales release is a month on month release, and basically it’s a measurement of the activities at the retail level of Canada, but excluding most volatile components, Automobile Sales Components, which makes up about 25% of the Headline or Retail Sales release and varies seasonly. A better release generally means more consumer spending, which leads to better economy, thus better for its currency.  And the CORE reading provides a far more accurate look of the actual economy, especially with the recent recalls by Toyota and Honda.

I’m going to be looking for a minimum deviation of 0.6% for this release.  Therefore if we get a -0.1% or worse, it would be negative for the CAD and we’ll be looking to BUY USD/CAD; however, if the opposite is true, or a 1.1% of actual release, I’ll be looking to SELL USD/CAD. 

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. US Core Retail Sales m/m 10/14/09
3. UK Retail Sales m/m 02/19/2010
4. US Core Retail Sales m/m 12/11/09
5. UK Retail Sales 03/25/2010
6. US Core Retail Sales m/m 09/15/09
7. UK Retail Sales m/m 12/17/09
8. UK Retail Sales m/m 11/19/09
9. UK Retail Sales m/m 10/22/09
10. Forex Trade Plan For NZ Retail Sales m/m 07/13/10

Tagged as: CAD, Canada, Canada news, Commodities, Consensus, Consumption, Core Reading, currency, economy, Expectation, Forex, Forex News, Fundamental News, Headline Number, Measurement, pips, retail level, Retail Sales