Canada Core Retail Sales 07/22/09

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

My focus will be on Retail Sales Core, which is a measurement of the activities at the retail level of the nation, excluding volatile Automobile Sales Components, which makes up about 25% of Retail Sales headline number. A higher Retail sales number means better economy, thus better for its currency.

My surprise factor (Deviation) will be 0.6% on the Core number. If my surprise factor is hit, we can expect the market to move 40 pips within the hour, with a historical accuracy of 82%.  With USD/CAD at the current level testing the psychological support at 1.1000, we will be looking mainly for LONG USD/CAD trades as the potential for further strength of the CAD is somewhat limited.

UPDATED: As I had to leave early due to running an errand, once the 0.7% figure was released, I didn’t see a reason to stick around nor a reason for CAD’s continued strength.  So I placed an entry order at the next support level and left for 2 hours.  When I came back, I was able to bank 24 pips for about 3 minutes of work?  Nice, wouldn’t you agree?  Watch the video below:

[flv:http://www.newsprofiteer.com/072209-cadretailsales/072209-cadretailsales.mp4 480 360]

Related posts:

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2. US Core Retail Sales m/m 10/14/09
3. US Core Retail Sales m/m 12/11/09
4. US Core Retail Sales m/m 09/15/09
5. Canada Core CPI m/m 11/18/09
6. Canada Core CPI m/m 10/16/09
7. Australia Retail Sales m/m 09/08/09
8. Canada Core CPI m/m 09/17/09
9. UK Retail Sales m/m 11/19/09
10. Forex Trade Plan For NZ Retail Sales m/m 07/13/10

Tagged as: CAD, Core Retail Sales, currency, economic outlook, Forex, Forex News, Forex System, Fundamental News, fundamental outlook, pips, psychological support, retail level, Retail Sales, trades, USD, USD/CAD