Tomorrow will be a busy day, and as many of you know one of my
favorite news releases comes out tomorrow. The Canadian Labor
Change report is one that consistently has moves of 50-75 pips
or more when it meets our triggers, and it met our safe trigger
eight times last year. In addition, we will also have the UK
Industrial Production report and the Canadian and US Trade
Balance reports tomorrow.
First up will be the UK Industrial Production report, which
will be released at 4:30 am EST. The expectation for this
report is 0.1%. We will be looking for a deviation of 0.5% to
trigger a safe trade. A higher than expected number would be
good for the GBP and would signal a long on the GBP/USD. A
lower than expected number would be bad for the GBP and would
signal a short on the GBP/USD.
This release last met our safe trigger in November and we had
traders report profits of up to 30 pips on the trade. To see
the video of November’s trade, click on the link below:
The next news release is the Canadian Labor Change report,
which will be released at 7:00 am EST. The expectation for
this report is 15k jobs. A higher than expected number will be
good for the CAD and signal a short on the USD/CAD and EUR/CAD,
and a lower than expected number will be bad for the CAD and
signal a long on the USD/CAD and EUR/CAD. We will be looking
for a deviation of 15k on this report to trigger a safe trade.
This report has met our safe trigger each of the last three
months, and we have had traders report profits of up to 60 pips
and more on each trade. Last month we even had traders report
profits of up to 90 pips on this release. To see the video of
last month’s trade, click on the link below:
Finally, the Canadian Trade Balance and the US Trade Balance
reports will both be released at 8:30 am EST. With the RSS
software, we will have the ability to trade both of these
releases across multiple currencies.
Our main focus will be on the CAD Trade Balance, as we
typically see better moves if this meets our safe trigger. So
if you are only able to trade one currency with your broker,
you should trade the EUR/CAD for this release as the US data is
coming out at the same time. For this report, the expected
number is $3.3 Billion. A higher than expected number will be
good for the CAD and signal a short on the EUR/CAD, and a lower
than expected number will be bad for the CAD and signal a long
on the EUR/CAD. We will be looking for a deviation of $0.8
Billion on this report to signal a safe trade.
This report has hit our safe trigger three out of the last four
months, and the market has moved 25-35 pips each month. This
release met our safe trigger last month and we had traders
report profits of up to 30 pips, depending on their entries.
To see a video of last month’s trade, click on the link below:
For the US Trade Balance, the expected number is -$59.1
Billion. A higher than expected number (less negative) will be
good for the USD and signal a short on the GBP/USD and a lower
than expected number (more negative) will be bad for the USD
and signal a long on the GBP/USD. We will be looking for a
deviation of $1.5 Billion on this report to trigger a safe
trade. This report last met our safe trigger in November, and
the market moved approximately 20 pips. To see a video of
November’s trade, click on the link below:
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!!!!
