CA Core Retail Sales is going to provide market volatility for the CAD as Retail sales in extreme cases could affect the GDP reading, and we know GDP is basically a measurement of the economy.
With the last Employment Change out of Canada at a whopping 54.5K versus the 11.5K of expectation and the Unemployment Rate at 6.6% as expected, I would definitely expect a stronger Retail Sales reading due to the correlation between employment and spending power… Of course, anything is possible with this release but since it is the only high-impact news event scheduled during this U.S. session, we should see plenty of volatility following the release…
8:30am CA Core Retail Sales Forecast 0.7% Previous -0.2%
The Trade Plan
Let´s trade this release using my after-news retracement method. The idea is to wait for the release, then for market to spike first, and then wait for a decent retracement before getting in. For more details on my trading method: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: USDCAD.
CA Core Retail Sales | June 22, 2017 | Forex News Trading
June 18, 2017 by Leave a Comment