CANADIAN AND US GDP REPORTS PROVIDE UP TO 50 PIPS
Our last live trade calls were this morning when we were
watching the both the Canadian GDP and the US GDP reports that
were released at the same time.
We suggested you focus on the Canadian GDP as is typically
triggers more and typically has a larger move if it meets our
safe trigger. For the Canadian GDP, we were looking to long
the EUR/CAD if the number came out at least 0.2% worse than
expected. The actual number came out 0.3% worse than expected
so it met our safe trigger. We had several traders report up
to 55 pips of profit on this trade.
For the US GDP, we were looking to long the GBP/USD if the
number came out at least 0.4% worse than expected. The actual
number was 0.4% worse, so it too met our safe trigger. We had
a report of one trader making about 30 pips on the USD/JPY on
this particular trade, while the GBP/USD moved approximately 70
pips. To view the video of these releases, you may click on
the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow as we will
have the US Non-Farm Payrolls and US ISM Manufacturing
reports. The first opportunity will be when the US Non-Farm
Payrolls report is released at 8:30 am EDT. We will focus on
the Non-Farm Payrolls figure, which is expected to be -75k
jobs. We have changed our focus on this one to the USD/JPY as
it has moved better than the GBP/USD in recent months. A
higher than expected number will be good for the USD and signal
a long on the USD/JPY, and a lower than expected number will be
bad for the USD and signal a short on the USD/JPY. We will be
looking for a deviation of 50k on this report to trigger a safe
trade.
This report last met our safe trigger in May, and we had
traders report profits of up to 75 pips on the USD/JPY. To see
a video of May’s trade, click on the link below:
Our second opportunity tomorrow will be when the US ISM
Manufacturing Report is released at 10:00 am EDT. The expected
number for this report is 49.3. A higher than expected number
will be good for the USD and signal a long on the USD/JPY, and
a lower than expected number will be bad for the USD and signal
a short on the USD/JPY. As this report has had a bigger impact
on the market recently, we will trade a lower trigger than we
have previously. We will be looking for a deviation of 1.5 on
this report to trigger a safe trade.
This report met our safe trigger last month and the USD/JPY
moved approximately 40 pips. We do not have a video of last
month’s trade, but to see the video of February’s trade click
on the following link:
This is our current outlook for these trades; however, it is
subject to change as market conditions may change by tomorrow.
Be sure to log in to the Live Trade Room 15 minutes prior to
the releases to get my commentary on these potential trades.
Good Luck!!!!
