CAD LABOR CHANGE PROVIDES UP TO 80 PIPS
Our last live trade call was this past Friday when we were
watching the Canadian Labor Change report. We were looking to
long the EURCAD and USDCAD if the number came out at least 15k
worse than expected. The number came out with a -60k
deviation, so it easily met our safe trigger. Our traders
reported up to 80 pips of profit on the EURCAD and 50 pips on
the USDCAD on this particular trade. To see the video of this
trade, click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have two opportunities to trade. The first
opportunity will be when the UK CPI report is released at 4:30
am EDT. There are several components to this release, and we
will be focusing on the UK CPI (EU Harmonized YoY) figure. The
expectation for this report is 4.2%. We will be looking for a
deviation of 0.2% to trigger a safe trade.
This report has met our safe trigger in two out of the last
three months, and the GBP/USD has moved approximately 45-60
pips. To see the video of last month’s trade, click on the
link below:
The second opportunity will be at 8:30 am EDT when the Canadian
Trade Balance and the US Trade Balance reports will both be
released. 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 Canadian Trade Balance, as we
typically see better moves if this release meets our safe
trigger. If you are only able to trade one currency pair 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 $5.7 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 five out of the last ten
months, and the market has moved 20-35 pips each month. This
release last met our safe trigger in May and we had traders
report profits of up to 25 pips, depending on their entries.
We did not get a video of this trade, but to see a video of
April’s trade, click on the link below:
For the US Trade Balance, the expected number is -$61.8
Billion. A higher than expected number (less negative) will be
good for the USD and signal a long on the USD/JPY and a lower
than expected number (more negative) will be bad for the USD
and signal a short on the USD/JPY. We will be looking for a
deviation of $1.5 Billion on this report to trigger a safe
trade.
This report met our safe trigger last month, and the USD/JPY
only moved approximately 15 pips. This is why we focus more on
the Canadian release.
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!!!!
