Canada Core Retail Sales 07/22/09

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8:30am CAD Core Retail Sales Forecast 0.4% Previous -0.5%

Definition
My focus will be on Retail Sales Core, which is a measurement of the activities at the retail level of the nation, excluding volatile Automobile Sales Components, which makes up about 25% of Retail Sales headline number. A higher Retail sales number means better economy, thus better for its currency

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Update
As I had to leave early due to running an errand, once the 0.7% figure was released, I didn’t see a reason to stick around nor a reason for CAD’s continued strength. So I placed an entry order at the next support level and left for 2 hours. When I came back, I was able to bank 24 pips for about 3 minutes of work? Nice, wouldn’t you agree? Watch the video above!

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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