Today we were watching the CAD CPI Core and hoping for .2 in deviation for a safe trade. We didn’t get the .2 however many did enter with .1 and made really good profits. I said in yesterdays email that a higher than expected number would signal a short and as you can see from the video and the transcripts we did get a nice fall. The video and transcripts can be found at the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow is a busy day with both the UK Retail Sales and the Canadian Retail Sales coming out. The UK data is up first as it will be released at 4:30 am eastern and is expected to come out at .6. This is a pretty cut and dry trade since it is coming out on its own however there is a chance for a revision so I will watch that closely.
If the actual number comes out higher than expected by .4 or more I will go long and if it comes out .4 lower or more I will go short on the GBP/USD. This could be a great mover and has the potential to deviate substantially which could result in a 50+ pip move.
The next release we will watch is at 8:30 am eastern and is the CAD retail Sales Core which is expected to be 1.1. This release has two separate components the first being the Core and the second being the regular monthly figure. Both of the components can have an affect on market direction however the Core generally takes precedence over the regular monthly number so that will be my focus.
If the Core comes out higher than expected by .3 or more I will go short on the USD/CAD and if it comes out lower than expected by .3 or more I will go long. If the two conflict I will exit at the first sign of the market reversing. This is not as good of a trade opportunity as the UK but if everything lines up it could be a great move.
Good Luck!!!
