10:00 AM EDT CAD Overnight Rate – Interest rate at which financial institutions lend to each other. USD/CAD Of 27 economists surveyed, all 27 think the rate will remain at 0.50%. There appears to be little chance the BOC will raise rates in the foreseeable future. If you are going to do this, do a…Details
The US NFP turned out to be a pretty good trade. A deviation of 107 on row 1 is gigantic, but a revision of -137 and disagreement on row 2 muted the move somewhat. I have seen cases back in the day where a revision like that would cause a huge whipsaw, with a spike…Details
8:30 AM EDT US Non-Farm Employment Change – Change in the number of employed people for the prior month. AUD/USD or EUR/USD In April we saw a deviation of 10 and .1 with a 12 pip spike. Very low deviation means little movement. The data and spike happened at 2 seconds after. The EUR/USD seemed…Details
9:30 PM EDT AUD Retail Sales – Change in the value of sales at the retail level. AUD/USD It’s hardly worth posting for this due to the poor deviations and moves in the past. I’ll give it another try or two, but ultimately drop it if we don’t start seeing better results out of it.…Details
The stock market sure seemed to settle down quickly after the Brexit vote. Hopefully the same will happen with the currency markets. The jury is still out on the effects of this, so I’d trade lightly until we see if the moves are muted or not. We heed to see a good deviation on a…Details
8:30 AM EDT CAD GDP – Change in the value of all goods and services produced by the economy. USD/CAD My data is very poor for this. Looks like there was a deviation of .3 in March but I didn’t trade it nor do I have any notes. The deviation in April and May was…Details
I hope everyone had a chance to watch the markets on Thursday during the Brexit vote. The GBP/USD was spiking up and down all day. The polls closed officially at 10:00 PM UK time. I had 2 MT4 stations open at the time. At that instant the spread on one of the stations grew to…Details
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8:30 AM EDT CAD Core Retail Sales – Change in the value of sales at the retail level. USD/CAD It has been a long time since we traded this by itself because it always seems to come out at the same time as the CPI release, which takes precedent over it. I wouldn’t expect a…Details
There were a number of good opportunities last week, but only one really deviated enough to generate a good move, and unfortunately it turned out to be the NZD GDP q/q which came out 5 seconds early. I’ve noticed over the last 6 months or so that any time the NZD deviates substantially, as happened…Details
8:30 AM EDT CAD Core CPI – Change in the price of goods and services purchased by consumers USD/CAD In March we saw 0 and -.2 with a 14 pip spike. The retail sales came out on time as a sell and caused a spike down that took in the sells. It trickled down a…Details