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US GDP
Today was a disappointment with the US GDP coming out less than expected by .1% resulting in a no trade. The market went up about 8 pips initially then fell back down below the open by about 17 pips. After meandering around in the that range the market did take off and move up about 40 pips however it was not a result of the release. Anyway, tomorrow we have the CAD GDP. I sent out the email for it yesterday however I am going to go over it one more time. I suggest everyone that is going to be trading this release to enter with fewer lots than you would normally trade with. This is how the releases will affect the Canadian dollar. The US Personal Spending and PCE Core will have a long biased on the Cad if they come out higher than expected and a short biased if they come out lower than expected. Seeing that I am going to focus on the Cad GDP my only concern is that the US releases are not conflicting with the CAD data. The Canadian GDP (MoM) is expected at .2% and the GDP Annualized is expected at 2.3%. My focus will be on the (MoM) and I would like to see .2% deviation. a higher than expected number will signal a sell and a lower than expected number will signal a buy. If you are new to my calls please visit this page for important information on how trade using my calls. I will be trading the USD/CAD and this is released at 8:30am eastern. Best Of Luck!!
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