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Canada´s monthly GDP report will be released today. Here´s the trading forecast:
8:30am NY Time Canada GDP m/m Forecast 0.2% Previous 0.2%
ACTION: USD/CAD SELL 0.5% / BUY -0.1%
The Trade Plan
Let´s look to SELL USD/CAD if we get a 0.6% or better release, or we’ll BUY USDCAD on a 0.0% or worse release. With recent uncertainty in the general market, a strong surprise in this GDP number may be the catalyst we need to see more volatility in CAD, and perhaps set the tone for the rest of the year…
We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
7:00am (NY Time) CAD Employment Change Forecast 16K Previous 60.9K
Unemployment Rate 7.2%
ACTION: USDCAD SELL 40.0K / BUY -10K
Canada´s monthly GDP report will be released today. Here´s the trading forecast:
8:30am NY Time Canada GDP m/m Forecast 0.2% Previous 0.3%
ACTION: USD/CAD SELL 0.4% / BUY 0.0%
The Trade Plan
Let´s look to SELL USD/CAD if we get a 0.4% or better release, or we’ll BUY USDCAD on a 0.0% or worse release. With recent optimism in the general market, a strong surprise in this GDP number may be the catalyst to push USDCAD down to the 0.9700 and set the tone for November.
The Bank of Canada (BOC) will announce their rate decision today at 9:00am sharp.
Here´s what analysts expect:
9:00am (NY Time) CA BOC Rate Decision Forecast 1.00% Previous 1.00%
ACTION: USD/CAD BUY 0.75% SELL 1.25%
The Trade Plan
Most analyst agree that the BOC will hold rates at 1.00%. I´ll be trading this release with a 0.25% deviation using Spike Trading method. In the event of a surprise hike it´s almost guaranteed that we´ll see strong market movement immediately after the release.
We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
7:00am (NY Time) CAD Employment Change Forecast 15K Previous -5.5K
Unemployment Rate 7.3%
ACTION: USDCAD SELL 40.0K / BUY -10K
Canada´s monthly GDP report will be released today. Here´s the trading forecast:
8:30am NY Time Canada GDP m/m Forecast 0.3% Previous 0.2%
ACTION: USD/CAD SELL 0.6% / BUY 0.0%
The Trade Plan
Let´s look to SELL USD/CAD if we get a 0.6% or better release, or we’ll BUY USDCAD on a 0.0% or worse release. With recent uncertainty in the general market, a strong surprise in this GDP number may be the catalyst we need to see more volatility in CAD, and perhaps set the tone for October.
We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
7:00am (NY Time) CAD Employment Change Forecast 24K Previous 7.1K
Unemployment Rate 7.3%
ACTION: USDCAD SELL 50.0K / BUY -1K
The Trade Plan
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