Because of the US holiday tomorrow, I wanted to go ahead and
recap what we did on the last live trade call and give you the
criteria for our next live trade call on Friday morning. The
last trade call I sent out covered the Canadian Retail Sales
report this morning.
For this report, we were focusing on the Retail Sales less
Autos figure and our plan was to go long on the USD/CAD or
EUR/CAD if the release came out lower than expected by 0.4% or
more from the expected number of 0.3%. The actual number came
out with a deviation of -0.2%, so our trigger was not met and
we did not enter this trade. To see the video of the trade
click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live trade call will be on Friday when the UK GDP
report will be released at 4:30 am EST. We will be focusing on
the UK GDP (QoQ) figure, which will be Row 1 on the RSS. The
expectation for this report is 0.8%. We will be looking for a
deviation of 0.2% 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, and a lower than expected number would be
bad for the GBP so that would signal a short on the GBP/USD.
This release seldom meets our safe trigger, but we have seen
some good movement when it has met our medium trigger of 0.1%.
It has met our medium trigger five times this year and we have
seen moves of approximately 20-50 pips each time. This release
last met our medium trigger last month and we saw a move of
approximately 30 pips.
This is our current outlook for this trade; however, it is
subject to change as market conditions may change by Friday.
Be sure to log in to the Live Trade Room 15 minutes prior to
the release to get my commentary on this potential trade.
Happy Thanksgiving!!!!
