7:00am (NY Time) CA Core CPI m/m Forecast 0.1% Previous 0.0%
ACTION: USD/CAD BUY -0.2% SELL 0.4%
The safe deviation for Canada Core CPI based on historical data is a minimum of 0.3% of deviation, therefore in order to trade this release successfully I’ll be looking for tradable releases of 0.4% or better to SELL USD/CAD or a -0.2% or worse to BUY USD/CAD.
Canadian Dollar has been trading very strong lately and the USD/CAD is currently around the 1.0700 level. As the low of August 2009 is at 1.0620 area, which may provide a medium support for the pair, I’ll be looking for a bounce from there; at break of which, I’ll be looking for the next area of support at 1.0400…
DEFINITION:
“CPI, Consumer Price Index, is a statistical estimate of the movement of the prices of goods and services bought for consumption purposes by households. Its computation uses price data collected for a sample of goods and services from a sample of sales outlets in a sample of locations for a sample of times and estimates of the shares of the different expenditures in the total covered by the index which are usually based upon expenditure data obtained for sampled periods from a sample of households(wikipedia).” It is also known as the “True Cost of Living”.
Related posts:
- Canada Core CPI m/m 11/18/09
- Canada Core CPI m/m 10/16/09
- Canada Core CPI m/m 02/18/2010
- Forex Trading Plan For Canada Core CPI m/m 06/22/10
- Canada Core CPI m/m 08/19/09
- Trading Canada Core CPI 04/23/10…
- Canada Core CPI m/m 03/19/2010
- Forex Trade Plan For Canada Core CPI m/m 09/21/10
- Canada Core CPI m/m 12/17/09
- Forex News Trading Canada Core CPI m/m 11/23/10
