We’re also getting  the Core Retail Sales release from Canada, let’s look at the forecast for this news:

8:30am NY Time Core Retail Sales    Forecast 0.0%    Previous 1.7%
ACTION: USD/CAD        BUY -0.6%         SELL 0.6%

We’re also getting  the Core Retail Sales release from Canada today, and with the Core CPI being released just about 90 minutes earlier, it’s important to take the context of the market into consideration before planning for this trade.  If we are trading at a support level on a better than expected CPI release, it is possible that market may not move much from this news even if our tradable deviation is hit… With that said, let’s look at the forecast for this news:

Core Retail Sales is another high impact release from Canada today, and with the Core CPI being released just about 90 minutes earlier, it’s important to take the context of the market into consideration before planning for this trade.  If we are trading at a support level on a better than expected CPI release, it is possible that market may not move much from this news even if our tradable deviation is hit… With that said, let’s look at the forecast for this news:

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

8:30am NY Time Core Retail Sales    Forecast 0.4%    Previous 0.0%
ACTION: USD/CAD        BUY -0.2%         SELL 1.0%

We’ll be looking to trade the Core Retail Sales release and not the headline release today; the core release as a forecast expectation of 0.4% with a previous release at 0.0%.  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, excluding most volatile Automobile Sales Components, which makes up about 25% of the Headline or Retail Sales release. A better release generally 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 as the automotive component could fluctuate per season.

8:30am NY Time Canada Core Retail Sales    Forecast 0.3%    Previous 0.2%
ACTION: USD/CAD        BUY -0.3%         SELL 0.9%

We’ll be focusing on Core Retail Sales release from Canada and not the headline release; the core release as a forecast expectation of 0.3% with a previous release at 0.2%.  Core Retail Sales release is a month on month release, and it’s 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 as the automotive component could fluctuate per season.